Hosking Partners LLP Makes New $5.50 Million Investment in Transocean Ltd. $RIG

Hosking Partners LLP bought a new position 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 institutional investor bought 1,050,543 shares of the offshore drilling services provider’s stock, valued at approximately $5,505,000.

Several other hedge funds have also bought and sold shares of RIG. Lancaster Investment Management purchased a new position in shares of Transocean in the 3rd quarter valued at about $15,619,000. Nisa Investment Advisors LLC acquired a new stake in Transocean in the third quarter valued at approximately $143,000. LCM Capital Management Inc acquired a new stake in Transocean in the third quarter valued at approximately $231,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Transocean in the third quarter valued at approximately $79,000. Finally, Foundation Resource Management Inc. purchased a new stake in shares of Transocean in the third quarter valued at approximately $726,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

Shares of Transocean stock opened at $6.04 on Thursday. The business has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $5.80. Transocean Ltd. has a 12 month low of $3.32 and a 12 month high of $7.66. The stock has a market capitalization of $6.75 billion, a P/E ratio of -3.22, a PEG ratio of 4.30 and a beta of 1.41. 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 quarterly earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%. The firm had revenue of $966.00 million for the quarter, compared to analyst estimates of $956.64 million. During the same period in the previous year, the company posted ($1.06) earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. As a group, analysts predict that Transocean Ltd. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

RIG has been the subject of several research analyst reports. Susquehanna reduced 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 reissued a “sell (d-)” rating on shares of Transocean in a research note on Thursday, October 15th. Fearnley Fonds raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Barclays reduced their price objective on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Finally, Zacks Research raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Transocean has an average rating of “Hold” and an average price target of $6.68.

About Transocean

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.