Triumph Capital Management Takes Position in Transocean Ltd. (NYSE:RIG)

Triumph Capital Management acquired a new stake in Transocean Ltd. (NYSE:RIG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 50,016 shares of the offshore drilling services provider’s stock, valued at approximately $318,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RIG. Van ECK Associates Corp increased its position in shares of Transocean by 11.3% during the fourth quarter. Van ECK Associates Corp now owns 15,908,217 shares of the offshore drilling services provider’s stock worth $101,017,000 after purchasing an additional 1,616,690 shares in the last quarter. American Century Companies Inc. increased its position in shares of Transocean by 2.3% during the third quarter. American Century Companies Inc. now owns 10,875,136 shares of the offshore drilling services provider’s stock worth $89,285,000 after purchasing an additional 246,832 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Transocean by 20.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,852,752 shares of the offshore drilling services provider’s stock worth $64,471,000 after purchasing an additional 1,353,221 shares in the last quarter. Scout Investments Inc. increased its position in shares of Transocean by 57.5% during the third quarter. Scout Investments Inc. now owns 3,984,999 shares of the offshore drilling services provider’s stock worth $31,402,000 after purchasing an additional 1,455,118 shares in the last quarter. Finally, Keybank National Association OH purchased a new stake in shares of Transocean during the third quarter worth approximately $29,946,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Trading Up 0.9 %

Shares of Transocean stock opened at $5.27 on Thursday. Transocean Ltd. has a 52 week low of $4.45 and a 52 week high of $8.88. The business’s fifty day simple moving average is $5.74 and its 200-day simple moving average is $5.96. The company has a quick ratio of 1.22, a current ratio of 1.35 and a debt-to-equity ratio of 0.65.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. The firm had revenue of $767.00 million for the quarter, compared to the consensus estimate of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.38) EPS. Research analysts predict that Transocean Ltd. will post 0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup dropped their price target on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Bank of America boosted their price objective on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, February 20th. Finally, Evercore ISI lowered their price objective on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.70.

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.