23,500 Shares in Transocean Ltd. (NYSE:RIG) Purchased by Quarry LP

Quarry LP bought a new stake in Transocean Ltd. (NYSE:RIG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,500 shares of the offshore drilling services provider’s stock, valued at approximately $126,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Murphy Pohlad Asset Management LLC raised its stake in Transocean by 1.7% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider’s stock valued at $604,000 after purchasing an additional 1,600 shares during the last quarter. Traynor Capital Management Inc. increased its stake in shares of Transocean by 5.2% during the 1st quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock valued at $209,000 after acquiring an additional 1,650 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Transocean by 8.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock valued at $140,000 after acquiring an additional 1,767 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after acquiring an additional 2,693 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Transocean by 11.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock valued at $176,000 after acquiring an additional 2,743 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RIG. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of Transocean in a report on Friday, August 2nd. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Morgan Stanley decreased their target price on Transocean from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, StockNews.com upgraded Transocean to a “sell” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.00.

Transocean Stock Performance

Transocean stock opened at $4.40 on Wednesday. The stock has a market cap of $3.85 billion, a P/E ratio of -8.46 and a beta of 2.79. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $4.81 and a 200-day moving average of $5.40. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $8.25.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The business had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) earnings per share. On average, analysts expect that Transocean Ltd. will post -0.18 EPS for the current fiscal year.

Insider Activity at Transocean

In other news, Director Perestroika purchased 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Perestroika bought 1,500,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the transaction, the director now directly owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. The disclosure for this purchase can be found here. Corporate insiders own 13.16% of the company’s stock.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.