Clough Capital Partners L P Has $23.94 Million Holdings in Transocean Ltd. $RIG

Clough Capital Partners L P cut its holdings in shares of Transocean Ltd. (NYSE:RIG) by 21.1% during the 1st quarter, Holdings Channel reports. The firm owned 3,610,967 shares of the offshore drilling services provider’s stock after selling 966,652 shares during the period. Transocean makes up 2.3% of Clough Capital Partners L P’s holdings, making the stock its 14th largest holding. Clough Capital Partners L P’s holdings in Transocean were worth $23,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RIG. TD Waterhouse Canada Inc. boosted its stake 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 buying an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC bought a new position in Transocean during the 2nd quarter worth $26,000. Flagship Harbor Advisors LLC acquired a new position in Transocean in the 4th quarter valued at $27,000. Elevation Point Wealth Partners LLC acquired a new position in Transocean in the 3rd quarter valued at $31,000. Finally, Larson Financial Group LLC lifted its position in shares of Transocean by 203.8% during the 3rd quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock valued at $34,000 after acquiring an additional 7,399 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RIG shares. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a report on Friday, July 17th. Susquehanna dropped their target price on shares of Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Morgan Stanley upped their price target on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Finally, TD Cowen increased their price target on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.82.

Insider Activity

In related news, Director Chad C. Deaton purchased 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were bought at an average cost of $4.95 per share, with a total value of $173,250.00. Following the acquisition, the director owned 237,421 shares of the company’s stock, valued at $1,175,233.95. This trade represents a 17.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 9.70% of the company’s stock.

Transocean Price Performance

Shares of RIG stock opened at $5.35 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a twelve month low of $2.72 and a twelve month high of $7.66. The company has a market cap of $5.98 billion, a P/E ratio of -1.80, a P/E/G ratio of 3.72 and a beta of 1.30. The business has a fifty day simple moving average of $5.71 and a 200 day simple moving average of $5.85.

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 analysts’ consensus estimates of $0.07 by ($0.10). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. On average, sell-side analysts forecast that Transocean Ltd. will post 0.13 EPS 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.