Perestroika Buys 1,500,000 Shares of Transocean Ltd. (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) Director Perestroika acquired 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the acquisition, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Transocean Stock Down 0.5 %

Shares of NYSE RIG opened at $4.13 on Friday. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $8.88. The stock’s fifty day simple moving average is $5.02 and its two-hundred day simple moving average is $5.46. The stock has a market capitalization of $3.62 billion, a PE ratio of -7.94 and a beta of 2.79. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last posted its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. Transocean’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, analysts expect that Transocean Ltd. will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Transocean

Institutional investors have recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Transocean by 34.7% in the fourth quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock worth $247,741,000 after buying an additional 10,049,077 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after acquiring an additional 5,856,414 shares during the period. Primecap Management Co. CA lifted its position 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 worth $321,941,000 after acquiring an additional 5,168,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Transocean by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock valued at $435,306,000 after purchasing an additional 4,107,956 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Transocean in the second quarter worth about $16,179,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RIG. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday. StockNews.com raised shares of Transocean to a “sell” rating in a research report on Monday, August 5th. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of Transocean in a research report on Friday, August 2nd. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.25.

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.