Alyeska Investment Group L.P. Invests $26.66 Million in Transocean Ltd. (RIG)
Alyeska Investment Group L.P. acquired a new position in shares of Transocean Ltd. (NYSE:RIG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,477,747 shares of the offshore drilling services provider’s stock, valued at approximately $26,661,000. Alyeska Investment Group L.P. owned 0.63% of Transocean as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Dumont & Blake Investment Advisors LLC acquired a new stake in Transocean in the 3rd quarter valued at $108,000. Saratoga Research & Investment Management acquired a new stake in Transocean in the 3rd quarter valued at $115,000. IndexIQ Advisors LLC acquired a new stake in Transocean in the 3rd quarter valued at $117,000. Dynamic Technology Lab Private Ltd acquired a new stake in Transocean in the 3rd quarter valued at $124,000. Finally, Investment Centers of America Inc. acquired a new stake in Transocean in the 3rd quarter valued at $127,000. Institutional investors and hedge funds own 73.09% of the company’s stock.
RIG has been the topic of several recent research reports. Jefferies Group set a $9.00 price target on shares of Transocean and gave the company a “hold” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada upgraded shares of Transocean from an “underperform” rating to a “sector perform” rating and set a $11.00 price target on the stock in a research note on Friday, August 25th. R. F. Lafferty set a $15.00 price target on shares of Transocean and gave the company a “buy” rating in a research note on Saturday, August 26th. ValuEngine lowered shares of Transocean from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Capital One Financial upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Thursday, August 31st. Eleven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.31.
Transocean Ltd. (NYSE RIG) traded down $0.15 during trading on Friday, hitting $9.91. 9,927,294 shares of the stock traded hands, compared to its average volume of 9,054,056. The firm has a market cap of $3,876.92, a price-to-earnings ratio of 12.39 and a beta of 1.80. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.66. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51.
Transocean (NYSE:RIG) last announced its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. The business had revenue of $808.00 million during the quarter, compared to the consensus estimate of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. Transocean’s revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. sell-side analysts anticipate that Transocean Ltd. will post -0.34 earnings per share for the current fiscal year.
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Transocean Company Profile
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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