Investment House LLC Makes New Investment in Transocean Ltd. $RIG

Investment House LLC purchased a new position in shares of Transocean Ltd. (NYSE:RIG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 100,000 shares of the offshore drilling services provider’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also made changes to their positions in RIG. Dalal Street LLC purchased a new stake in shares of Transocean in the 3rd quarter valued at about $76,260,000. Ghisallo Capital Management LLC purchased a new stake in shares of Transocean in the 3rd quarter valued at about $57,720,000. Vanguard Group Inc. lifted its holdings in shares of Transocean by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock valued at $294,900,000 after purchasing an additional 15,315,289 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of Transocean in the 3rd quarter valued at about $30,262,000. Finally, Ninepoint Partners LP purchased a new stake in shares of Transocean in the 3rd quarter valued at about $18,720,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Down 1.5%

RIG opened at $7.34 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $6.52 and a two-hundred day moving average price of $5.36. Transocean Ltd. has a 52 week low of $2.34 and a 52 week high of $7.66. The company has a market cap of $8.19 billion, a PE ratio of -2.46 and a beta of 1.34.

Transocean (NYSE:RIG) last released its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted ($0.10) EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, research analysts anticipate that Transocean Ltd. will post 0.16 EPS for the current year.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 78,370 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total transaction of $498,433.20. Following the transaction, the executive vice president owned 268,025 shares in the company, valued at approximately $1,704,639. The trade was a 22.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BTIG Research boosted their target price on Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a report on Monday, February 9th. Clarkson Capital downgraded Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Fearnley Fonds downgraded Transocean from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Pareto Securities downgraded Transocean from a “hold” rating to a “sell” rating and set a $5.25 price objective for the company. in a research note on Tuesday, February 10th. Finally, Susquehanna upped their price objective on Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Transocean presently has a consensus rating of “Hold” and a consensus price target of $6.96.

About Transocean

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.