Transocean Ltd. $RIG Shares Newly Acquired by Privium Fund Management B.V.

Privium Fund Management B.V. bought a new position in shares of Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 155,699 shares of the offshore drilling services provider’s stock, valued at approximately $816,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RIG. Assenagon Asset Management S.A. acquired a new stake in Transocean during the 2nd quarter worth approximately $37,477,000. Arlington Capital Management Inc. acquired a new position in shares of Transocean in the second quarter valued at approximately $2,613,000. Elliott Investment Management L.P. purchased a new stake in shares of Transocean during the first quarter worth approximately $103,606,000. Dimensional Fund Advisors LP raised its stake in shares of Transocean by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock worth $323,682,000 after purchasing an additional 5,349,264 shares during the last quarter. Finally, Ninepoint Partners LP acquired a new stake in shares of Transocean during the second quarter worth $34,230,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

RIG stock traded up $0.14 during trading on Friday, reaching $5.25. 37,007,162 shares of the company were exchanged, compared to its average volume of 42,387,000. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.27 and a current ratio of 1.59. The stock’s 50 day moving average price is $5.74 and its 200 day moving average price is $5.87. Transocean Ltd. has a 52-week low of $3.68 and a 52-week high of $7.66. The company has a market cap of $5.86 billion, a P/E ratio of 37.46, a PEG ratio of 4.56 and a beta of 1.44.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, November 2nd. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Transocean had a net margin of 7.25% and a return on equity of 1.85%. The company had revenue of $937.00 million during the quarter, compared to the consensus estimate of $943.99 million. During the same period last year, the firm earned ($2.00) EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, analysts predict that Transocean Ltd. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RIG shares. Barclays lowered their price objective on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Zacks Research upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Thursday, October 15th. Wall Street Zen downgraded shares of Transocean from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Fearnley Fonds upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.68.

Transocean Profile

Transocean Ltd. is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company specializes in ultra-deepwater and harsh-environment drilling, helping customers explore for and develop offshore energy resources.

Transocean owns and operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs. Its services generally include contract drilling, rig operations, well-construction support, and related offshore drilling management.

With roots tracing back to the 1920s, Transocean serves customers in major offshore energy regions around the world.