Sanctuary Advisors LLC Purchases New Shares in Transocean Ltd. (NYSE:RIG)

Sanctuary Advisors LLC purchased a new stake in Transocean Ltd. (NYSE:RIG) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 70,108 shares of the offshore drilling services provider’s stock, valued at approximately $412,000.

Several other institutional investors and hedge funds have also modified their holdings of RIG. Northwestern Mutual Wealth Management Co. grew its stake in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Transocean in the second quarter valued at about $30,000. Fiducient Advisors LLC acquired a new position in shares of Transocean in the first quarter valued at about $63,000. SG Americas Securities LLC acquired a new position in shares of Transocean in the second quarter valued at about $64,000. Finally, Fermata Advisors LLC acquired a new position in shares of Transocean in the first quarter valued at about $75,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Susquehanna cut their price objective on shares of Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Friday, October 11th. Morgan Stanley upped their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Benchmark cut shares of Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus price target of $6.88.

Transocean Stock Up 3.3 %

RIG stock opened at $4.13 on Thursday. The stock has a market capitalization of $3.89 billion, a P/E 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 Ltd. has a 12 month low of $3.85 and a 12 month high of $7.66. The firm has a 50-day moving average price of $4.57 and a 200-day moving average price of $5.26.

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

Insider Activity

In other news, Director Perestroika acquired 1,500,000 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the transaction, the director now owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Perestroika bought 1,500,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by insiders.

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.