Investment House LLC Makes New $413,000 Investment in Transocean Ltd. $RIG

Investment House LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the 4th quarter, Holdings Channel.com reports. The fund bought 100,000 shares of the offshore drilling services provider’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. grew its holdings in shares of Transocean by 22,432.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after acquiring an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC acquired a new stake in shares of Transocean in the 2nd quarter worth approximately $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Transocean in the 4th quarter worth approximately $27,000. Benedict Financial Advisors Inc. acquired a new stake in shares of Transocean in the 3rd quarter worth approximately $31,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in shares of Transocean in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 78,370 shares of the 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 transaction, the executive vice president owned 268,025 shares of the company’s stock, valued at $1,704,639. This represents a 22.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 9.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RIG has been the topic of a number of research reports. Clarkson Capital cut Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Pareto Securities cut Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target on the stock. in a report on Tuesday, February 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. BTIG Research upped their price target on Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Susquehanna upped their price target on Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.96.

Transocean Price Performance

Shares of NYSE:RIG opened at $7.34 on Thursday. The business’s fifty day moving average price is $6.52 and its two-hundred day moving average price is $5.36. The stock has a market cap of $8.19 billion, a PE ratio of -2.46 and a beta of 1.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. Transocean Ltd. has a one year low of $2.34 and a one year high of $7.66.

Transocean (NYSE:RIG) last announced its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. Transocean’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. On average, analysts forecast that Transocean Ltd. will post 0.16 EPS for the current fiscal year.

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.