138,533 Shares of Transocean Ltd. $RIG Bought by Foundation Resource Management Inc.

Foundation Resource Management Inc. acquired a new stake in Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 138,533 shares of the offshore drilling services provider’s stock, valued at approximately $726,000.

Other large investors have also bought and sold shares of the company. Ascentis Independent Advisors acquired a new stake in Transocean during the 1st quarter worth approximately $43,000. EverSource Wealth Advisors LLC lifted its stake in Transocean by 27.0% in 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 buying an additional 1,391 shares in the last quarter. Root Financial Partners LLC lifted its stake in Transocean by 192.6% in the first quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock valued at $52,000 after buying an additional 5,126 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Transocean in the second quarter valued at approximately $52,000. Finally, Hunter Associates Investment Management LLC acquired a new position in shares of Transocean in the first quarter valued at approximately $72,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RIG shares. Barclays lowered 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. Zacks Research upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Susquehanna cut their price objective on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Fearnley Fonds raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Transocean has a consensus rating of “Hold” and an average target price of $6.68.

Transocean Stock Up 5.1%

Shares of RIG stock traded up $0.28 on Monday, hitting $5.91. 56,396,618 shares of the stock were exchanged, compared to its average volume of 40,699,398. The company has a current ratio of 1.59, a quick ratio of 1.27 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $6.60 billion, a P/E ratio of -3.14, a price-to-earnings-growth ratio of 4.16 and a beta of 1.41. The business has a 50-day moving average of $5.65 and a 200 day moving average of $5.82. Transocean Ltd. has a fifty-two week low of $3.22 and a fifty-two week high of $7.66.

Transocean (NYSE:RIG) last posted its quarterly earnings data 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 business had revenue of $966.00 million during the quarter, compared to the consensus estimate of $956.64 million. During the same period last year, the company earned ($1.06) earnings per share. Transocean’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Transocean Ltd. will post 0.18 EPS for the current year.

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.