Signature Estate & Investment Advisors LLC Purchases New Position in Transocean Ltd. (NYSE:RIG)

Signature Estate & Investment Advisors LLC purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) in the 2nd quarter, Holdings Channel reports. The fund purchased 19,000 shares of the offshore drilling services provider’s stock, valued at approximately $102,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Transocean by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock valued at $433,208,000 after purchasing an additional 429,950 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Transocean by 11.4% during the 4th quarter. Primecap Management Co. CA now owns 50,699,389 shares of the offshore drilling services provider’s stock valued at $321,941,000 after purchasing an additional 5,168,000 shares during the last quarter. Capital World Investors lifted its holdings in Transocean by 18.8% during the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after purchasing an additional 7,320,672 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Transocean by 23.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 35,690,620 shares of the offshore drilling services provider’s stock valued at $226,641,000 after purchasing an additional 6,719,483 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Transocean by 7.0% in the first quarter. Van ECK Associates Corp now owns 17,013,964 shares of the offshore drilling services provider’s stock worth $106,848,000 after acquiring an additional 1,105,747 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RIG shares. Evercore ISI dropped their target price on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Monday, August 5th. Finally, Benchmark reissued a “buy” rating and set a $8.00 price target on shares of Transocean in a research note on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.25.

Insider Buying and Selling at Transocean

In other news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the purchase, the director now owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 13.16% of the company’s stock.

Transocean Stock Down 0.8 %

Shares of NYSE:RIG opened at $4.93 on Wednesday. Transocean Ltd. has a 52 week low of $4.45 and a 52 week high of $8.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. The company has a market capitalization of $4.64 billion, a PE ratio of -9.48 and a beta of 2.85. The company has a 50 day moving average price of $5.24 and a two-hundred day moving average price of $5.52.

Transocean (NYSE:RIG) last issued its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $862.25 million. During the same period in the previous year, the company posted ($0.15) EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Analysts forecast that Transocean Ltd. will post -0.1 earnings per share for the current year.

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.