MQS Management LLC Grows Stock Holdings in Transocean Ltd. (NYSE:RIG)

MQS Management LLC lifted its position in Transocean Ltd. (NYSE:RIG) by 104.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,594 shares of the offshore drilling services provider’s stock after buying an additional 26,855 shares during the period. MQS Management LLC’s holdings in Transocean were worth $281,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RIG. XTX Topco Ltd grew its holdings in Transocean by 5.9% in the second quarter. XTX Topco Ltd now owns 99,545 shares of the offshore drilling services provider’s stock worth $533,000 after purchasing an additional 5,542 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Transocean by 3.7% in the 2nd quarter. Blair William & Co. IL now owns 269,696 shares of the offshore drilling services provider’s stock worth $1,443,000 after purchasing an additional 9,704 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Transocean by 15.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 102,764 shares of the offshore drilling services provider’s stock valued at $550,000 after buying an additional 14,031 shares in the last quarter. Amalgamated Bank purchased a new stake in Transocean in the second quarter valued at about $135,000. Finally, Primecap Management Co. CA boosted its holdings in Transocean by 0.7% in the second quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider’s stock worth $300,239,000 after acquiring an additional 375,450 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Transocean

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

Transocean Stock Performance

Shares of NYSE RIG opened at $4.54 on Friday. The company’s fifty day moving average price is $4.98 and its 200 day moving average price is $5.45. The company has a market capitalization of $3.97 billion, a PE ratio of -8.72 and a beta of 2.79. Transocean Ltd. has a 1 year low of $3.85 and a 1 year high of $8.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The business 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 in the prior year, the firm earned ($0.15) EPS. On average, research analysts predict that Transocean Ltd. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on RIG. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley lowered 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. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of Transocean in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Transocean to a “sell” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.

About Transocean

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.