3,169,572 Shares in Transocean Ltd. $RIG Purchased by Rokos Capital Management LLP

Rokos Capital Management LLP purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 3,169,572 shares of the offshore drilling services provider’s stock, valued at approximately $21,030,000.

Other large investors have also recently made changes to their positions in the company. Fruth Investment Management increased its stake in shares of Transocean by 2.8% during the fourth quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider’s stock valued at $373,000 after buying an additional 2,500 shares during the period. Annandale Capital LLC lifted its position in shares of Transocean by 17.7% in the 4th quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider’s stock worth $69,000 after purchasing an additional 2,500 shares during the period. Townsend & Associates Inc lifted its position in shares of Transocean by 16.0% in the 4th quarter. Townsend & Associates Inc now owns 29,000 shares of the offshore drilling services provider’s stock worth $126,000 after purchasing an additional 4,000 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Transocean by 20.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider’s stock valued at $75,000 after purchasing an additional 4,026 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Transocean by 19.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock valued at $101,000 after buying an additional 4,043 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Transocean

In other Transocean news, Director Chad C. Deaton purchased 35,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was purchased at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the completion of the purchase, the director directly owned 237,421 shares of the company’s stock, valued at $1,175,233.95. This trade 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. Insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RIG. Morgan Stanley raised their price objective on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Susquehanna lowered their target price on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Friday, July 17th. Finally, TD Cowen increased their price objective on Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Transocean currently has an average rating of “Hold” and an average target price of $6.82.

Transocean Stock Down 1.4%

NYSE:RIG opened at $5.28 on Tuesday. The firm has a 50-day simple moving average of $5.66 and a two-hundred day simple moving average of $5.86. Transocean Ltd. has a fifty-two week low of $2.72 and a fifty-two week high of $7.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The firm has a market cap of $5.89 billion, a P/E ratio of -1.77, a P/E/G ratio of 3.72 and a beta of 1.30.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. Transocean’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. Analysts predict that Transocean Ltd. will post 0.13 earnings per share 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.