Arlington Capital Management Inc. Lowers Holdings in Transocean Ltd. (NYSE:RIG)

Arlington Capital Management Inc. trimmed its holdings in Transocean Ltd. (NYSE:RIG) by 87.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,075 shares of the offshore drilling services provider’s stock after selling 120,466 shares during the quarter. Arlington Capital Management Inc.’s holdings in Transocean were worth $115,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in RIG. Commonwealth Equity Services LLC lifted its stake in Transocean by 8.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 222,448 shares of the offshore drilling services provider’s stock valued at $1,826,000 after buying an additional 17,961 shares in the last quarter. Raymond James & Associates lifted its stake in Transocean by 35.1% in the 3rd quarter. Raymond James & Associates now owns 381,124 shares of the offshore drilling services provider’s stock valued at $3,129,000 after buying an additional 98,987 shares in the last quarter. Independent Advisor Alliance lifted its stake in Transocean by 150.4% in the 3rd quarter. Independent Advisor Alliance now owns 28,565 shares of the offshore drilling services provider’s stock valued at $235,000 after buying an additional 17,158 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in Transocean by 146.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 25,235 shares of the offshore drilling services provider’s stock valued at $207,000 after buying an additional 15,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Transocean by 22.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 145,543 shares of the offshore drilling services provider’s stock valued at $1,195,000 after buying an additional 26,494 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Up 0.5 %

Shares of Transocean stock traded up $0.03 during trading on Wednesday, hitting $5.75. 17,398,603 shares of the stock were exchanged, compared to its average volume of 18,198,885. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -11.06 and a beta of 2.83. The firm’s 50-day moving average price is $5.83 and its 200 day moving average price is $5.90. Transocean Ltd. has a 12-month low of $4.45 and a 12-month high of $8.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.35 and a quick ratio of 1.04.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company earned ($0.38) EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts forecast that Transocean Ltd. will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RIG has been the subject of a number of recent research reports. Susquehanna upgraded shares of Transocean from a “neutral” rating to a “positive” rating and increased their price objective for the company from $5.50 to $9.00 in a report on Monday, April 8th. Citigroup lowered their price objective on shares of Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Barclays decreased their price target on shares of Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Benchmark reissued a “buy” rating and issued a $8.00 price target on shares of Transocean in a research report on Tuesday, April 30th. Finally, Bank of America raised their price target on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Transocean presently has a consensus rating of “Hold” and an average price target of $7.70.

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.