155,699 Shares of Transocean Ltd. $RIG Acquired by Privium Fund Management B.V.

Privium Fund Management B.V. acquired a new stake in Transocean Ltd. (NYSE:RIG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 155,699 shares of the offshore drilling services provider’s stock, valued at approximately $816,000.

Several other hedge funds have also recently added to or reduced their stakes in RIG. Dimensional Fund Advisors LP raised its position in Transocean by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock worth $323,682,000 after acquiring an additional 5,349,264 shares during the last quarter. State Street Corp grew its position in shares of Transocean by 8.7% in the second quarter. State Street Corp now owns 27,148,850 shares of the offshore drilling services provider’s stock valued at $132,758,000 after purchasing an additional 2,166,646 shares during the last quarter. Elliott Investment Management L.P. acquired a new stake in shares of Transocean in the first quarter valued at approximately $103,606,000. Bank of New York Mellon Corp increased its stake in shares of Transocean by 67.8% during the 1st quarter. Bank of New York Mellon Corp now owns 5,698,827 shares of the offshore drilling services provider’s stock worth $37,783,000 after purchasing an additional 2,303,297 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Transocean during the 2nd quarter worth approximately $37,477,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RIG. Barclays reduced their target price on Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Fearnley Fonds raised Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Zacks Research raised Transocean from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Transocean from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.68.

Transocean Trading Up 2.8%

RIG traded up $0.14 during midday trading on Friday, hitting $5.25. The company’s stock had a trading volume of 37,007,162 shares, compared to its average volume of 42,387,000. Transocean Ltd. has a 52-week low of $3.68 and a 52-week high of $7.66. The firm has a 50-day moving average price of $5.74 and a two-hundred day moving average price of $5.87. 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 cap of $5.86 billion, a P/E ratio of 37.46, a PEG ratio of 4.56 and a beta of 1.44.

Transocean (NYSE:RIG) last released its earnings results on Monday, November 2nd. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Transocean had a net margin of 7.25% and a return on equity of 1.85%. The business had revenue of $937.00 million for the quarter, compared to analysts’ expectations of $943.99 million. During the same period last year, the company earned ($2.00) earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. On average, research analysts anticipate that Transocean Ltd. will post 0.18 earnings per share 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.