Lisanti Capital Growth LLC Has $577,000 Holdings in Transocean Ltd. (NYSE:RIG)

Lisanti Capital Growth LLC decreased its holdings in Transocean Ltd. (NYSE:RIG) by 94.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 90,810 shares of the offshore drilling services provider’s stock after selling 1,680,012 shares during the period. Lisanti Capital Growth LLC’s holdings in Transocean were worth $577,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RIG. Private Trust Co. NA increased its position in Transocean by 1,489.8% in the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after purchasing an additional 8,000 shares during the last quarter. Csenge Advisory Group bought a new position in Transocean during the third quarter valued at approximately $83,000. Southern Capital Advisors LLC acquired a new stake in Transocean in the fourth quarter valued at approximately $83,000. Joseph P. Lucia & Associates LLC bought a new stake in Transocean in the third quarter worth approximately $87,000. Finally, Vicus Capital acquired a new position in shares of Transocean during the 4th quarter worth $88,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of Transocean in a report on Tuesday, April 30th. Barclays reduced their target price on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Thursday, February 22nd. Bank of America increased their price target on Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a report on Monday, April 15th. Finally, Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.70.

Transocean Price Performance

Shares of Transocean stock traded up $0.05 during midday trading on Tuesday, hitting $5.73. The company had a trading volume of 11,445,947 shares, compared to its average volume of 18,207,990. Transocean Ltd. has a 1-year low of $4.45 and a 1-year high of $8.88. The business’s 50 day simple moving average is $5.79 and its two-hundred day simple moving average is $5.91. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.65.

Transocean (NYSE:RIG) last released its earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. Transocean had a negative net margin of 13.27% and a negative return on equity of 4.67%. The business had revenue of $767.00 million during the quarter, compared to analysts’ expectations of $781.86 million. During the same quarter last year, the company earned ($0.38) earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. On average, equities research analysts anticipate that Transocean Ltd. will post 0.01 earnings per share for the current fiscal year.

Transocean 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.