330,000 Shares in Transocean Ltd. $RIG Bought by MASO CAPITAL PARTNERS Ltd

MASO CAPITAL PARTNERS Ltd bought a new stake in Transocean Ltd. (NYSE:RIG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 330,000 shares of the offshore drilling services provider’s stock, valued at approximately $1,030,000. Transocean comprises approximately 1.6% of MASO CAPITAL PARTNERS Ltd’s holdings, making the stock its 11th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dalal Street LLC purchased a new stake in Transocean during the 3rd quarter worth about $76,260,000. Ghisallo Capital Management LLC purchased a new position in shares of Transocean in the 3rd quarter valued at about $57,720,000. Vanguard Group Inc. raised its position in shares of Transocean by 19.3% during the 3rd quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock worth $294,900,000 after acquiring an additional 15,315,289 shares in the last quarter. Ninepoint Partners LP acquired a new stake in shares of Transocean during the 3rd quarter worth about $18,720,000. Finally, Goldman Sachs Group Inc. lifted its stake in Transocean by 88.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total transaction of $498,433.20. Following the completion of the sale, the executive vice president directly owned 268,025 shares of the company’s stock, valued at $1,704,639. This represents a 22.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keelan Adamson sold 58,687 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total value of $293,435.00. Following the sale, the chief executive officer directly owned 1,222,182 shares of the company’s stock, valued at $6,110,910. The trade was a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 159,903 shares of company stock worth $906,098. Corporate insiders own 12.54% of the company’s stock.

Transocean Stock Down 2.4%

RIG stock opened at $6.21 on Tuesday. The company has a market cap of $6.84 billion, a price-to-earnings ratio of -1.97 and a beta of 1.40. The company has a fifty day moving average price of $5.46 and a 200 day moving average price of $4.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.56 and a quick ratio of 1.27. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $6.96.

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

Analyst Upgrades and Downgrades

RIG has been the topic of several recent analyst reports. Citigroup increased their price target on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, December 11th. BTIG Research boosted 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. Morgan Stanley increased their target price on shares of Transocean from $4.50 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Susquehanna lifted their price target on shares of Transocean from $6.50 to $7.50 and gave the stock a “positive” rating in a research note on Monday, February 23rd. Finally, Fearnley Fonds cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Transocean currently has a consensus rating of “Reduce” and a consensus target price of $6.38.

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.