23,500 Shares in Transocean Ltd. (NYSE:RIG) Purchased by Quarry LP

Quarry LP bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,500 shares of the offshore drilling services provider’s stock, valued at approximately $126,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIG. Capital World Investors grew its holdings in Transocean by 34.7% during 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 acquiring an additional 10,049,077 shares during the period. Dimensional Fund Advisors LP grew its holdings in Transocean by 19.0% during the second 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. Vanguard Group Inc. boosted its position in Transocean by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock worth $435,306,000 after purchasing an additional 4,107,956 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Transocean during the second quarter worth approximately $16,179,000. Finally, American Century Companies Inc. boosted its position in Transocean by 24.3% during the second quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock worth $71,891,000 after purchasing an additional 2,623,615 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Transocean

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

Transocean Stock Performance

Shares of Transocean stock opened at $4.40 on Wednesday. The firm’s fifty day simple moving average is $4.81 and its 200-day simple moving average is $5.40. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of -8.46 and a beta of 2.79. Transocean Ltd. has a 12 month low of $3.85 and a 12 month high of $8.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.08.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter last year, the business earned ($0.15) earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that Transocean Ltd. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RIG shares. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. StockNews.com raised Transocean to a “sell” rating in a research note on Thursday, September 26th. Morgan Stanley cut their target price on Transocean from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Benchmark reissued a “buy” rating and set a $8.00 target price on shares of Transocean in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Transocean currently has an average rating of “Hold” and a consensus price target of $7.00.

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.