Transocean Ltd. $RIG Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in Transocean Ltd. (NYSE:RIG) by 26.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 774,416 shares of the offshore drilling services provider’s stock after selling 272,402 shares during the period. Quantbot Technologies LP owned about 0.07% of Transocean worth $2,416,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RIG. Josh Arnold Investment Consultant LLC purchased a new stake in Transocean during the second quarter worth $26,000. Blueshift Asset Management LLC acquired a new position in shares of Transocean in the second quarter worth about $27,000. SBI Securities Co. Ltd. raised its position in shares of Transocean by 78.0% in the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock worth $28,000 after acquiring an additional 4,700 shares during the period. Benedict Financial Advisors Inc. purchased a new stake in shares of Transocean during the 3rd quarter worth about $31,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in shares of Transocean during the 3rd quarter valued at about $31,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Keelan Adamson sold 58,687 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the completion of the sale, the chief executive officer owned 1,222,182 shares of the company’s stock, valued at approximately $6,110,910. This represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 147,970 shares of company stock worth $706,632 in the last quarter. Insiders own 12.54% of the company’s stock.

Transocean Stock Performance

Shares of NYSE:RIG opened at $6.10 on Wednesday. The business’s 50 day moving average price is $5.09 and its 200-day moving average price is $4.14. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $6.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.56 and a quick ratio of 1.27. The firm has a market capitalization of $6.72 billion, a PE ratio of -1.93 and a beta of 1.40.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted ($0.09) EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Susquehanna upped their price target on Transocean from $6.50 to $7.50 and gave the stock a “positive” rating in a report on Monday, February 23rd. Morgan Stanley upped their target price on Transocean from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Barclays lowered shares of Transocean from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $4.50 to $6.00 in a report on Wednesday, February 18th. Finally, BTIG Research upped their price objective on shares of Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Transocean has an average rating of “Reduce” and a consensus price target of $5.86.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.