Schwab Charles Investment Management Inc. Has $25.46 Million Stake in Transocean Ltd. (RIG)

Schwab Charles Investment Management Inc. grew its position in Transocean Ltd. (NYSE:RIG) by 17.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,366,309 shares of the offshore drilling services provider’s stock after purchasing an additional 344,956 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.60% of Transocean worth $25,462,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in Transocean by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock worth $200,000 after acquiring an additional 400 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Transocean by 12.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after acquiring an additional 1,394 shares in the last quarter. CIBC Asset Management Inc raised its stake in Transocean by 3.7% during the 2nd quarter. CIBC Asset Management Inc now owns 24,324 shares of the offshore drilling services provider’s stock worth $200,000 after acquiring an additional 861 shares in the last quarter. Sei Investments Co. raised its stake in Transocean by 6.2% during the 2nd quarter. Sei Investments Co. now owns 207,281 shares of the offshore drilling services provider’s stock worth $1,705,000 after acquiring an additional 12,147 shares in the last quarter. Finally, TD Asset Management Inc. raised its stake in Transocean by 0.5% during the 2nd quarter. TD Asset Management Inc. now owns 705,133 shares of the offshore drilling services provider’s stock worth $5,803,000 after acquiring an additional 3,560 shares in the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.

Several brokerages recently commented on RIG. Pareto Securities upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. ValuEngine upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. BMO Capital Markets set a $7.00 price objective on shares of Transocean and gave the company a “sell” rating in a research note on Wednesday, October 18th. Royal Bank of Canada set a $11.00 price objective on shares of Transocean and gave the company a “hold” rating in a research note on Sunday, November 12th. Finally, Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, October 3rd. Eleven analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. Transocean presently has an average rating of “Hold” and an average price target of $12.31.

Transocean Ltd. (NYSE:RIG) traded down $0.33 during mid-day trading on Thursday, reaching $9.82. 10,008,000 shares of the company were exchanged, compared to its average volume of 13,720,112. The stock has a market capitalization of $3,970.81, a P/E ratio of 12.69 and a beta of 1.80. Transocean Ltd. has a 52-week low of $7.20 and a 52-week high of $16.16. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. analysts predict that Transocean Ltd. will post -0.34 earnings per share for the current year.

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About Transocean

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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