Diversified Trust Co Makes New $904,000 Investment in Transocean Ltd. $RIG

Diversified Trust Co acquired a new position in Transocean Ltd. (NYSE:RIG) in the first quarter, HoldingsChannel reports. The institutional investor acquired 136,387 shares of the offshore drilling services provider’s stock, valued at approximately $904,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its stake in shares of Transocean by 22,432.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after buying an additional 6,281 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Transocean in the 4th quarter worth $27,000. Vestmark Advisory Solutions Inc. purchased a new stake in Transocean in the 3rd quarter worth $31,000. Forteris Wealth Management Inc. bought a new stake in Transocean during the fourth quarter valued at about $41,000. Finally, Keudell Morrison Wealth Management bought a new stake in Transocean during the fourth quarter valued at about $41,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RIG has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. TD Cowen lifted their target price on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley boosted their price target on Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Clarkson Capital downgraded Transocean from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Three equities research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.96.

Transocean Stock Down 4.8%

RIG opened at $5.04 on Thursday. The company has a market capitalization of $5.62 billion, a PE ratio of -1.69 and a beta of 1.28. The firm has a 50-day simple moving average of $6.25 and a two-hundred day simple moving average of $5.69. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 52 week low of $2.51 and a 52 week high of $7.66.

Transocean (NYSE:RIG) last issued its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. Analysts forecast that Transocean Ltd. will post 0.17 earnings per share for the current fiscal year.

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.