Transocean Ltd. $RIG Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in shares of Transocean Ltd. (NYSE:RIG) by 64.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 276,083 shares of the offshore drilling services provider’s stock after buying an additional 108,631 shares during the quarter. NewEdge Advisors LLC’s holdings in Transocean were worth $1,830,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its position in shares of Transocean by 22,432.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after acquiring an additional 6,281 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in Transocean during the 1st quarter worth about $43,000. EverSource Wealth Advisors LLC raised its stake in Transocean by 27.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock valued at $43,000 after purchasing an additional 1,391 shares during the last quarter. Root Financial Partners LLC raised its stake in Transocean by 192.6% in the 1st quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock valued at $52,000 after purchasing an additional 5,126 shares during the last quarter. Finally, Josh Arnold Investment Consultant LLC purchased a new position in Transocean in the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Chad C. Deaton purchased 35,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were bought at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the acquisition, the director directly owned 237,421 shares in the company, valued at $1,175,233.95. This trade represents a 17.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 9.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RIG. Fearnley Fonds raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Barclays reduced their price objective on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday. Susquehanna decreased their target price on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Friday, July 17th. Finally, TD Cowen boosted their price target on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.68.

Transocean Stock Up 0.8%

Shares of NYSE:RIG opened at $5.76 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.27 and a debt-to-equity ratio of 0.56. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of -3.07, a PEG ratio of 3.71 and a beta of 1.32. The stock’s 50-day moving average price is $5.34 and its two-hundred day moving average price is $5.94. Transocean Ltd. has a 12-month low of $2.76 and a 12-month high of $7.66.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $966.00 million during the quarter, compared to the consensus estimate of $956.64 million. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.06) EPS. On average, research analysts forecast that Transocean Ltd. will post 0.14 EPS for the current year.

Transocean Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.