Profund Advisors LLC Boosts Stake in Transocean Ltd. (NYSE:RIG)

Profund Advisors LLC lifted its holdings in Transocean Ltd. (NYSE:RIG) by 19.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,486 shares of the offshore drilling services provider’s stock after purchasing an additional 20,054 shares during the period. Profund Advisors LLC’s holdings in Transocean were worth $666,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. SCP Investment LP acquired a new position in shares of Transocean during the 4th quarter worth approximately $419,000. Advisory Services Network LLC lifted its stake in Transocean by 10.7% in the 4th quarter. Advisory Services Network LLC now owns 249,431 shares of the offshore drilling services provider’s stock valued at $1,584,000 after buying an additional 24,130 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in Transocean by 114,684.6% in the 4th quarter. TFO Wealth Partners LLC now owns 29,844 shares of the offshore drilling services provider’s stock worth $190,000 after buying an additional 29,818 shares during the last quarter. Madison Asset Management LLC raised its holdings in shares of Transocean by 23.4% during the fourth quarter. Madison Asset Management LLC now owns 2,640,000 shares of the offshore drilling services provider’s stock valued at $16,764,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Cloverfields Capital Group LP purchased a new position in shares of Transocean in the fourth quarter valued at approximately $1,008,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RIG shares. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Citigroup downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Morgan Stanley dropped their price objective on shares of Transocean from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of Transocean in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Transocean to a “sell” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.00.

Transocean Trading Up 0.5 %

Shares of Transocean stock opened at $4.58 on Wednesday. The stock has a 50 day moving average of $4.92 and a 200 day moving average of $5.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of -8.80 and a beta of 2.79. Transocean Ltd. has a fifty-two week low of $3.85 and a fifty-two week high of $8.71.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The business had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) earnings per share. As a group, research analysts predict that Transocean Ltd. will post -0.19 earnings per share for the current year.

Insider Transactions at Transocean

In other news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the purchase, the director now directly owns 89,574,894 shares in the company, valued at $468,476,695.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Perestroika purchased 1,500,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. The disclosure for this purchase can be found here. Company insiders own 13.16% of the company’s stock.

Transocean 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.