Two Sigma Advisers LP boosted its stake in Transocean LTD (NYSE:RIG) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,269,203 shares of the offshore drilling services provider’s stock after acquiring an additional 505,350 shares during the period. Two Sigma Advisers LP owned 1.37% of Transocean worth $66,955,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in RIG. Nationwide Fund Advisors raised its position in Transocean by 61.3% in the third quarter. Nationwide Fund Advisors now owns 955,007 shares of the offshore drilling services provider’s stock worth $10,276,000 after acquiring an additional 362,890 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of Transocean in the third quarter valued at approximately $599,000. IndexIQ Advisors LLC bought a new stake in shares of Transocean in the third quarter valued at approximately $117,000. Prudential Financial Inc. raised its position in shares of Transocean by 13.0% in the third quarter. Prudential Financial Inc. now owns 2,588,824 shares of the offshore drilling services provider’s stock valued at $27,856,000 after purchasing an additional 298,151 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Transocean by 310.7% in the third quarter. Principal Financial Group Inc. now owns 2,536,811 shares of the offshore drilling services provider’s stock valued at $27,296,000 after purchasing an additional 1,919,171 shares during the period. 63.87% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Frederik Wilhelm Mohn purchased 2,000,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $9.29 per share, with a total value of $18,580,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David A. Tonnel sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total transaction of $84,510.00. Following the completion of the transaction, the senior vice president now directly owns 75,349 shares of the company’s stock, valued at approximately $707,527.11. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.
Several analysts have recently issued reports on the stock. Susquehanna Bancshares set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Friday, January 12th. Cowen set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Thursday, January 11th. Piper Jaffray set a $11.00 price target on shares of Transocean and gave the company a “hold” rating in a research report on Wednesday, January 10th. Jefferies Group raised shares of Transocean from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, January 4th. Finally, ValuEngine lowered shares of Transocean from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. Transocean presently has an average rating of “Hold” and an average target price of $11.64.
RIG stock opened at $9.72 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.36 and a quick ratio of 3.06. Transocean LTD has a one year low of $7.20 and a one year high of $12.82. The company has a market capitalization of $4,400.99, a price-to-earnings ratio of -162.00 and a beta of 1.51.
Transocean (NYSE:RIG) last released its quarterly earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.03). Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The company had revenue of $629.00 million during the quarter, compared to analysts’ expectations of $619.66 million. During the same period in the prior year, the firm earned $0.69 EPS. Transocean’s quarterly revenue was down 35.4% on a year-over-year basis. equities research analysts forecast that Transocean LTD will post -0.72 earnings per share for the current fiscal year.
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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.
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