Glenorchy Capital Ltd Invests $1.98 Million in Transocean Ltd. (NYSE:RIG)

Glenorchy Capital Ltd acquired a new position in shares of Transocean Ltd. (NYSE:RIG) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 311,573 shares of the offshore drilling services provider’s stock, valued at approximately $1,978,000. Transocean comprises about 0.8% of Glenorchy Capital Ltd’s portfolio, making the stock its 23rd biggest position.

A number of other hedge funds also recently made changes to their positions in RIG. National Bank of Canada FI raised its position in shares of Transocean by 3,800.0% during the third quarter. National Bank of Canada FI now owns 5,850 shares of the offshore drilling services provider’s stock worth $46,000 after acquiring an additional 5,700 shares during the last quarter. Private Trust Co. NA grew its stake in Transocean by 1,489.8% during the fourth 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 period. Csenge Advisory Group acquired a new stake in Transocean during the third quarter worth approximately $83,000. Southern Capital Advisors LLC acquired a new stake in Transocean during the fourth quarter worth approximately $83,000. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Transocean during the third quarter worth approximately $87,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RIG has been the subject of several recent analyst reports. Bank of America raised their target price on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Barclays decreased their target price on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, February 20th. Morgan Stanley decreased their target price on Transocean from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Finally, Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and raised their price objective for the company from $5.50 to $9.00 in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.22.

Transocean Stock Up 2.2 %

Transocean stock traded up $0.13 during mid-day trading on Tuesday, reaching $5.94. The stock had a trading volume of 16,059,997 shares, compared to its average volume of 17,962,961. The firm has a market capitalization of $4.87 billion, a PE ratio of -4.68 and a beta of 2.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.52. Transocean Ltd. has a fifty-two week low of $4.45 and a fifty-two week high of $8.88. The stock’s 50-day simple moving average is $5.66 and its 200-day simple moving average is $6.04.

Transocean (NYSE:RIG) last announced its earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.12. The company had revenue of $741.00 million for the quarter, compared to analysts’ expectations of $779.17 million. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. During the same quarter in the previous year, the firm earned ($0.49) earnings per share. On average, sell-side analysts forecast that Transocean Ltd. will post 0.02 EPS 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.