MASO CAPITAL PARTNERS Ltd Buys Shares of 330,000 Transocean Ltd. $RIG

MASO CAPITAL PARTNERS Ltd bought a new position in shares of Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 330,000 shares of the offshore drilling services provider’s stock, valued at approximately $1,030,000. Transocean accounts for about 1.6% of MASO CAPITAL PARTNERS Ltd’s holdings, making the stock its 11th biggest holding.

A number of other institutional investors have also made changes to their positions in RIG. Integrated Wealth Concepts LLC lifted its holdings in shares of Transocean by 12.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock worth $221,000 after acquiring an additional 7,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Transocean by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock valued at $1,376,000 after purchasing an additional 18,957 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Transocean by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after purchasing an additional 5,719,637 shares during the period. Bank of Montreal Can raised its position in Transocean by 6.4% in the second quarter. Bank of Montreal Can now owns 159,347 shares of the offshore drilling services provider’s stock valued at $413,000 after purchasing an additional 9,527 shares during the period. Finally, Vise Technologies Inc. acquired a new position in Transocean during the second quarter worth $146,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total transaction of $498,433.20. Following the sale, the executive vice president directly owned 268,025 shares in the company, valued at approximately $1,704,639. This represents a 22.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keelan Adamson sold 58,687 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the completion of the sale, the chief executive officer directly owned 1,222,182 shares in the company, valued at approximately $6,110,910. This trade represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,903 shares of company stock valued at $906,098 in the last quarter. Company insiders own 12.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RIG. Citigroup lifted their price objective on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Susquehanna boosted their price target on shares of Transocean from $6.50 to $7.50 and gave the stock a “positive” rating in a research note on Monday, February 23rd. Finally, Barclays cut shares of Transocean from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $4.50 to $6.00 in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $6.38.

Transocean Stock Down 2.4%

Transocean stock opened at $6.21 on Tuesday. The firm has a market capitalization of $6.84 billion, a P/E ratio of -1.97 and a beta of 1.40. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.96. The stock’s fifty day simple moving average is $5.46 and its 200-day simple moving average is $4.35.

Transocean (NYSE:RIG) last released its earnings results on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal 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.