Dimensional Fund Advisors LP grew its stake in Transocean Ltd. (NYSE:RIG) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,729,364 shares of the offshore drilling services provider’s stock after buying an additional 135,470 shares during the period. Dimensional Fund Advisors LP owned 3.25% of Transocean worth $136,965,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of RIG. Prudential Financial Inc. increased its stake in shares of Transocean by 53.1% in the second quarter. Prudential Financial Inc. now owns 2,290,673 shares of the offshore drilling services provider’s stock worth $18,853,000 after acquiring an additional 794,927 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of Transocean by 129.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after acquiring an additional 3,556,281 shares during the period. Comerica Bank increased its stake in shares of Transocean by 148.9% in the third quarter. Comerica Bank now owns 336,684 shares of the offshore drilling services provider’s stock worth $3,498,000 after acquiring an additional 201,399 shares during the period. OZ Management LP acquired a new stake in shares of Transocean in the second quarter worth $1,053,000. Finally, Engineers Gate Manager LP increased its stake in shares of Transocean by 821.9% in the second quarter. Engineers Gate Manager LP now owns 386,853 shares of the offshore drilling services provider’s stock worth $3,184,000 after acquiring an additional 344,889 shares during the period. 73.09% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on RIG shares. Pareto Securities upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Instinet reiterated a “reduce” rating and issued a $7.00 price objective (down previously from $8.00) on shares of Transocean in a research note on Saturday, August 19th. Royal Bank of Canada upgraded shares of Transocean from an “underperform” rating to a “sector perform” rating and set a $11.00 price objective on the stock in a research note on Friday, August 25th. BidaskClub upgraded shares of Transocean from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, R. F. Lafferty set a $15.00 price objective on shares of Transocean and gave the stock a “buy” rating in a research note on Saturday, August 26th. Eleven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $12.31.
Shares of Transocean Ltd. (NYSE RIG) traded down $0.06 during midday trading on Friday, hitting $9.45. 13,283,711 shares of the stock traded hands, compared to its average volume of 8,816,266. Transocean Ltd. has a 1-year low of $7.20 and a 1-year high of $16.16. The firm has a market capitalization of $3,720.44, a price-to-earnings ratio of 11.89 and a beta of 1.80. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51.
Transocean (NYSE:RIG) last announced its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The business had revenue of $808.00 million for the quarter, compared to analyst estimates of $703.13 million. During the same quarter last year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. equities analysts expect that Transocean Ltd. will post -0.34 EPS for the current fiscal year.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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