Mirabella Financial Services LLP Invests $2.61 Million in Transocean Ltd. $RIG

Mirabella Financial Services LLP purchased a new position in shares of Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 836,143 shares of the offshore drilling services provider’s stock, valued at approximately $2,609,000. Mirabella Financial Services LLP owned 0.08% of Transocean at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RIG. Benedict Financial Advisors Inc. purchased a new position in Transocean during the 3rd quarter worth $31,000. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Transocean in the third quarter valued at about $31,000. Josh Arnold Investment Consultant LLC acquired a new position in shares of Transocean during the second quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Transocean during the third quarter worth about $31,000. Finally, Blueshift Asset Management LLC purchased a new position in Transocean during the second quarter worth about $27,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Stock Down 2.4%

RIG stock opened at $6.21 on Tuesday. The company has a market cap of $6.84 billion, a P/E ratio of -1.97 and a beta of 1.40. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $6.96. The company’s 50-day moving average price is $5.46 and its 200 day moving average price is $4.35. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64.

Transocean (NYSE:RIG) last issued its earnings results on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share (EPS) 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 company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 78,370 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 268,025 shares in the company, valued at approximately $1,704,639. The trade was a 22.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keelan Adamson sold 58,687 shares of Transocean stock in a transaction 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 transaction, the chief executive officer directly owned 1,222,182 shares of the company’s stock, valued at $6,110,910. This trade represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 159,903 shares of company stock worth $906,098. Insiders own 12.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RIG shares. BTIG Research raised their price objective on shares of Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Susquehanna increased their target price on Transocean from $6.50 to $7.50 and gave the stock a “positive” rating in a research note on Monday, February 23rd. Morgan Stanley raised their price target on Transocean from $4.50 to $5.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Barclays downgraded Transocean from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $4.50 to $6.00 in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $6.38.

Transocean Profile

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.