Cubist Systematic Strategies LLC lowered its holdings in shares of Transocean Ltd. (NYSE:RIG) by 20.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,234 shares of the offshore drilling services provider’s stock after selling 4,806 shares during the period. Cubist Systematic Strategies LLC’s holdings in Transocean were worth $158,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. BlueCrest Capital Management Ltd raised its holdings in shares of Transocean by 17.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 122,000 shares of the offshore drilling services provider’s stock worth $1,004,000 after buying an additional 18,000 shares in the last quarter. State Street Corp raised its holdings in shares of Transocean by 7.5% during the 2nd quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock worth $188,616,000 after buying an additional 1,593,179 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Transocean by 206.2% in the 2nd quarter. Gotham Asset Management LLC now owns 499,583 shares of the offshore drilling services provider’s stock worth $4,112,000 after purchasing an additional 336,439 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Transocean by 3.4% in the 2nd quarter. Flinton Capital Management LLC now owns 272,544 shares of the offshore drilling services provider’s stock worth $2,243,000 after purchasing an additional 8,874 shares in the last quarter. Finally, Odey Asset Management Group Ltd acquired a new position in Transocean in the 2nd quarter worth about $737,000. 68.88% of the stock is owned by institutional investors.
In related news, CAO Howard E. Davis acquired 40,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $7.32 per share, with a total value of $292,800.00. Following the completion of the purchase, the chief accounting officer now directly owns 21,793 shares in the company, valued at approximately $159,524.76. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.
Shares of Transocean Ltd. (RIG) opened at $10.88 on Monday. The company has a market capitalization of $4,256.40, a P/E ratio of 13.60 and a beta of 1.81. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51.
Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million during the quarter, compared to the consensus estimate of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. equities research analysts predict that Transocean Ltd. will post -0.29 EPS for the current year.
A number of equities analysts have issued reports on the company. Goldman Sachs Group, Inc. (The) raised Transocean from a “sell” rating to a “neutral” rating and upped their target price for the stock from $8.57 to $9.75 in a report on Wednesday, August 9th. Jefferies Group LLC upped their target price on Transocean from $10.50 to $11.00 and gave the stock a “hold” rating in a report on Friday. Evercore ISI reaffirmed a “buy” rating and issued a $18.00 target price on shares of Transocean in a report on Thursday, August 10th. Instinet reaffirmed a “reduce” rating and issued a $7.00 target price (down previously from $8.00) on shares of Transocean in a report on Saturday, August 19th. Finally, Nordea Equity Research reaffirmed a “buy” rating and issued a $14.00 target price on shares of Transocean in a report on Saturday, September 30th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.25.
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.
What are top analysts saying about Transocean Ltd.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Transocean Ltd. and related companies.