American Century Companies Inc. Acquires 6,542,271 Shares of Transocean Ltd. (NYSE:RIG)

American Century Companies Inc. boosted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 51.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,257,437 shares of the offshore drilling services provider’s stock after acquiring an additional 6,542,271 shares during the quarter. American Century Companies Inc. owned 2.20% of Transocean worth $72,215,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RIG. Intech Investment Management LLC purchased a new position in Transocean during the 3rd quarter worth $670,000. Charles Schwab Investment Management Inc. increased its stake in shares of Transocean by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock valued at $49,327,000 after buying an additional 826,229 shares during the period. Cerity Partners LLC raised its holdings in shares of Transocean by 20.4% in the third quarter. Cerity Partners LLC now owns 99,114 shares of the offshore drilling services provider’s stock valued at $421,000 after acquiring an additional 16,812 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Transocean by 334.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,660,176 shares of the offshore drilling services provider’s stock worth $7,056,000 after acquiring an additional 1,277,814 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Transocean by 209.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 173,494 shares of the offshore drilling services provider’s stock worth $737,000 after acquiring an additional 117,459 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RIG shares. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Citigroup dropped their target price on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Barclays reduced their price target on Transocean from $4.50 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. TD Cowen dropped their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, SEB Equity Research set a $2.80 target price on shares of Transocean in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.23.

Transocean Stock Down 2.8 %

RIG stock opened at $3.14 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 52 week low of $2.55 and a 52 week high of $6.88. The stock has a market capitalization of $2.76 billion, a PE ratio of -4.30, a price-to-earnings-growth ratio of 0.86 and a beta of 2.72. The firm has a 50 day moving average of $3.46 and a 200 day moving average of $3.92.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company had revenue of $952.00 million for the quarter, compared to analysts’ expectations of $962.28 million. Sell-side analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the sale, the executive vice president now owns 313,072 shares in the company, valued at $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.16% of the company’s stock.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.