102,000 Shares in Transocean Ltd. $RIG Acquired by Privium Fund Management B.V.

Privium Fund Management B.V. bought a new stake in Transocean Ltd. (NYSE:RIG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 102,000 shares of the offshore drilling services provider’s stock, valued at approximately $318,000.

A number of other hedge funds have also modified their holdings of RIG. Josh Arnold Investment Consultant LLC purchased a new stake in Transocean in the 2nd quarter valued at about $26,000. Benedict Financial Advisors Inc. acquired a new stake in shares of Transocean during the third quarter valued at about $31,000. Blueshift Asset Management LLC purchased a new stake in shares of Transocean in the 2nd quarter valued at approximately $27,000. Blume Capital Management Inc. lifted its holdings in shares of Transocean by 125.9% in the 2nd quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock worth $27,000 after acquiring an additional 5,885 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Transocean by 78.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock worth $28,000 after purchasing an additional 4,700 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Stock Performance

Shares of RIG opened at $4.98 on Friday. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $5.17. The stock has a market capitalization of $5.48 billion, a PE ratio of -1.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a 50-day simple moving average of $4.31 and a 200-day simple moving average of $3.65.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. The firm had revenue of ($1,894.00) million for the quarter, compared to analyst estimates of $1.01 billion. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction dated Monday, November 24th. The shares were acquired at an average cost of $4.02 per share, for a total transaction of $6,030,000.00. Following the acquisition, the director owned 96,574,894 shares of the company’s stock, valued at $388,231,073.88. This trade represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Keelan Adamson sold 58,687 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total transaction of $293,435.00. Following the transaction, the chief executive officer owned 1,222,182 shares of the company’s stock, valued at approximately $6,110,910. The trade was a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 712,970 shares of company stock worth $3,152,132. Corporate insiders own 12.27% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Citigroup increased their target price on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley set a $4.50 target price on Transocean in a research report on Monday, December 15th. Susquehanna increased their price target on shares of Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research report on Wednesday, January 7th. Finally, Barclays raised their price objective on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.38.

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.