Transocean Ltd. (RIG) Stake Lifted by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund lifted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 252.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,161 shares of the offshore drilling services provider’s stock after purchasing an additional 103,311 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Transocean were worth $1,551,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of RIG. FMR LLC boosted its stake in Transocean by 29.3% in the first quarter. FMR LLC now owns 217,676 shares of the offshore drilling services provider’s stock worth $2,710,000 after buying an additional 49,283 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in Transocean by 7.6% in the first quarter. Thrivent Financial For Lutherans now owns 14,490 shares of the offshore drilling services provider’s stock valued at $180,000 after purchasing an additional 1,020 shares during the last quarter. Paloma Partners Management Co lifted its position in Transocean by 162.6% in the first quarter. Paloma Partners Management Co now owns 39,098 shares of the offshore drilling services provider’s stock valued at $487,000 after purchasing an additional 24,208 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Transocean in the first quarter valued at approximately $227,000. Finally, Fox Run Management L.L.C. bought a new stake in Transocean in the second quarter valued at approximately $217,000. 70.31% of the stock is owned by institutional investors and hedge funds.
In other Transocean news, CAO Howard E. Davis acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average price of $7.32 per share, for a total transaction of $292,800.00. Following the acquisition, the chief accounting officer now directly owns 21,793 shares in the company, valued at $159,524.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.
Transocean Ltd. (NYSE RIG) opened at $11.24 on Tuesday. Transocean Ltd. has a 1-year low of $7.20 and a 1-year high of $16.66. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $4,530.25, a price-to-earnings ratio of 14.48 and a beta of 1.81.
Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.20. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The company had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $703.13 million. During the same quarter in the previous year, the business earned $0.25 EPS. Transocean’s revenue was down 10.8% compared to the same quarter last year. equities analysts expect that Transocean Ltd. will post -0.35 earnings per share for the current year.
RIG has been the subject of a number of recent analyst reports. HSBC Holdings plc started coverage on Transocean in a report on Thursday, October 19th. They set a “hold” rating and a $12.00 target price for the company. Jefferies Group LLC increased their price objective on Transocean from $10.50 to $11.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research report on Wednesday, August 2nd. Credit Suisse Group reaffirmed a “buy” rating on shares of Transocean in a research report on Wednesday, July 19th. Finally, BidaskClub raised Transocean from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $12.31.
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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