Sterling Capital Management LLC Has $467,000 Stock Holdings in Transocean Ltd. $RIG

Sterling Capital Management LLC decreased its stake in Transocean Ltd. (NYSE:RIG) by 65.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,484 shares of the offshore drilling services provider’s stock after selling 131,620 shares during the period. Sterling Capital Management LLC’s holdings in Transocean were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dalal Street LLC acquired a new position in Transocean during the third quarter valued at approximately $76,260,000. Ghisallo Capital Management LLC acquired a new position in shares of Transocean during the 3rd quarter worth approximately $57,720,000. Zimmer Partners LP bought a new stake in shares of Transocean during the 3rd quarter worth approximately $30,262,000. Barclays PLC boosted its holdings in shares of Transocean by 230.6% in the 4th quarter. Barclays PLC now owns 10,802,664 shares of the offshore drilling services provider’s stock valued at $44,615,000 after buying an additional 7,535,041 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Transocean by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider’s stock valued at $179,531,000 after buying an additional 7,516,589 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Clarkson Capital cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. Susquehanna lifted their price objective on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. TD Cowen boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $6.00 to $8.00 in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.96.

Transocean Stock Performance

NYSE RIG opened at $5.05 on Friday. The firm has a 50-day moving average of $6.13 and a 200-day moving average of $5.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The stock has a market cap of $5.64 billion, a PE ratio of -1.70 and a beta of 1.30. Transocean Ltd. has a 52-week low of $2.53 and a 52-week high of $7.66.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. On average, sell-side analysts anticipate that Transocean Ltd. will post 0.16 EPS for the current year.

Transocean News Roundup

Here are the key news stories impacting Transocean this week:

• Positive Sentiment: Transocean secured a conditional agreement with Equinor for three “Cat D” harsh-environment rigs, adding over $1 billion to backlog and strengthening future revenue visibility. MarketWatch article
• Positive Sentiment: Analysts at Zacks Research recently raised some longer-term earnings estimates for Transocean, reflecting improved expectations following the Equinor deal.
• Neutral Sentiment: The Equinor contract remains subject to license approvals, so the full benefit is not yet finalized.
• Negative Sentiment: Other Zacks updates trimmed near-term earnings estimates for 2026-2027, suggesting profitability may remain uneven before the new contract fully ramps.

Transocean Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.