Transocean Ltd. $RIG Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its stake in shares of Transocean Ltd. (NYSE:RIG) by 64.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 276,083 shares of the offshore drilling services provider’s stock after acquiring an additional 108,631 shares during the period. NewEdge Advisors LLC’s holdings in Transocean were worth $1,830,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Transocean by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock worth $400,636,000 after purchasing an additional 2,487,015 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Transocean by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock valued at $323,682,000 after purchasing an additional 5,349,264 shares in the last quarter. Dalal Street LLC increased its stake in Transocean by 10.6% during the 4th quarter. Dalal Street LLC now owns 27,040,133 shares of the offshore drilling services provider’s stock worth $111,676,000 after buying an additional 2,597,801 shares during the period. Morgan Stanley increased its stake in Transocean by 9.4% during the 4th quarter. Morgan Stanley now owns 24,790,325 shares of the offshore drilling services provider’s stock worth $102,384,000 after buying an additional 2,135,964 shares during the period. Finally, State Street Corp lifted its holdings in Transocean by 13.1% in the 4th quarter. State Street Corp now owns 24,725,897 shares of the offshore drilling services provider’s stock worth $102,118,000 after buying an additional 2,856,372 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Chad C. Deaton acquired 35,000 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average cost of $4.95 per share, with a total value of $173,250.00. Following the completion of the acquisition, the director directly owned 237,421 shares in the company, valued at $1,175,233.95. This represents a 17.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Transocean Price Performance

Shares of RIG stock opened at $5.76 on Friday. The firm has a fifty day moving average of $5.34 and a two-hundred day moving average of $5.94. The firm has a market cap of $6.44 billion, a P/E ratio of -3.07, a P/E/G ratio of 3.71 and a beta of 1.32. Transocean Ltd. has a 1-year low of $2.76 and a 1-year high of $7.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.59 and a quick ratio of 1.27.

Transocean (NYSE:RIG) last issued its earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The business had revenue of $966.00 million for the quarter, compared to analyst estimates of $956.64 million. During the same quarter in the prior year, the business posted ($1.06) EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

RIG has been the subject of several recent analyst reports. TD Cowen raised their target price on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Fearnley Fonds upgraded Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Susquehanna cut their price target on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a report on Friday, July 17th. Finally, Barclays dropped their price objective on Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Transocean presently has an average rating of “Hold” and a consensus price target of $6.68.

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.