Quantitative Investment Management LLC Buys New Shares in Transocean Ltd. $RIG

Quantitative Investment Management LLC purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 287,926 shares of the offshore drilling services provider’s stock, valued at approximately $1,407,000.

A number of other hedge funds also recently modified their holdings of RIG. EverSource Wealth Advisors LLC increased its position in shares of Transocean by 27.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock valued at $43,000 after purchasing an additional 1,391 shares during the period. Annandale Capital LLC lifted its position in Transocean by 17.7% in the fourth 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. Mercer Global Advisors Inc. ADV boosted its stake in Transocean by 20.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider’s stock worth $75,000 after buying an additional 4,026 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Transocean by 19.8% in the 4th 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. Finally, Nwam LLC raised its stake in shares of Transocean by 15.5% in the 4th quarter. Nwam LLC now owns 32,134 shares of the offshore drilling services provider’s stock valued at $146,000 after buying an additional 4,304 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Performance

RIG stock opened at $5.81 on Tuesday. The company has a 50 day moving average price of $5.35 and a 200 day moving average price of $6.00. Transocean Ltd. has a fifty-two week low of $2.93 and a fifty-two week high of $7.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.59 and a quick ratio of 1.27. The stock has a market capitalization of $6.49 billion, a PE ratio of -3.09, a price-to-earnings-growth ratio of 4.54 and a beta of 1.32.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $966.00 million during the quarter, compared to analyst estimates of $956.64 million. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%.The company’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the company earned ($1.06) earnings per share. Analysts forecast that Transocean Ltd. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RIG. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Friday, July 17th. Susquehanna lowered their price objective on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Barclays cut their target price on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. TD Cowen upped their price target on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Finally, Fearnley Fonds upgraded Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.68.

Insiders Place Their Bets

In other news, Director Chad C. Deaton bought 35,000 shares of the stock in a transaction on Thursday, July 2nd. The stock was purchased at an average price of $4.95 per share, with a total value of $173,250.00. Following the completion of the purchase, the director owned 237,421 shares of the company’s stock, valued at approximately $1,175,233.95. This trade represents a 17.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.70% of the stock is owned by insiders.

Transocean Company 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.