Quantbot Technologies LP Buys 829,802 Shares of Transocean Ltd. $RIG

Quantbot Technologies LP raised its stake in shares of Transocean Ltd. (NYSE:RIG) by 382.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,046,818 shares of the offshore drilling services provider’s stock after purchasing an additional 829,802 shares during the period. Quantbot Technologies LP owned approximately 0.11% of Transocean worth $2,711,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moors & Cabot Inc. lifted its position in shares of Transocean by 14.7% during the 2nd quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider’s stock worth $71,000 after buying an additional 3,500 shares in the last quarter. HBK Sorce Advisory LLC increased its position in shares of Transocean by 34.5% during the second quarter. HBK Sorce Advisory LLC now owns 16,134 shares of the offshore drilling services provider’s stock valued at $42,000 after acquiring an additional 4,139 shares during the last quarter. Boston Partners lifted its holdings in Transocean by 3.2% during the first quarter. Boston Partners now owns 140,904 shares of the offshore drilling services provider’s stock worth $447,000 after acquiring an additional 4,331 shares during the period. Wedbush Securities Inc. boosted its position in Transocean by 40.2% in the second quarter. Wedbush Securities Inc. now owns 15,350 shares of the offshore drilling services provider’s stock worth $40,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Transocean by 4.2% in the first quarter. Avantax Advisory Services Inc. now owns 111,502 shares of the offshore drilling services provider’s stock worth $353,000 after purchasing an additional 4,490 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RIG has been the subject of several research analyst reports. Barclays raised their target price on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Finally, Citigroup increased their target price on shares of Transocean from $3.50 to $4.25 and gave the company a “neutral” rating in a research report on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.39.

Insider Activity at Transocean

In related news, EVP Robert Thaddeus Vayda sold 30,000 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $4.29, for a total transaction of $128,700.00. Following the sale, the executive vice president owned 235,154 shares of the company’s stock, valued at approximately $1,008,810.66. This represents a 11.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederik Wilhelm Mohn bought 1,500,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was bought at an average price of $4.02 per share, with a total value of $6,030,000.00. Following the purchase, the director owned 96,574,894 shares in the company, valued at $388,231,073.88. This trade represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 11,000,000 shares of company stock worth $36,460,000 and sold 624,711 shares worth $2,660,016. 12.27% of the stock is owned by company insiders.

Transocean Stock Performance

Shares of RIG stock opened at $4.43 on Friday. The firm’s 50 day moving average is $3.76 and its 200 day moving average is $3.22. The stock has a market capitalization of $4.87 billion, a P/E ratio of -1.35 and a beta of 1.39. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $4.50. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last released its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of ($1,894.00) million during the quarter, compared to analyst estimates of $1.01 billion. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current year.

About Transocean

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.