Marshall Wace North America L.P. purchased a new position in Transocean LTD (NYSE:RIG) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,053,388 shares of the offshore drilling services provider’s stock, valued at approximately $14,695,000.

Several other large investors also recently modified their holdings of RIG. Aperio Group LLC lifted its stake in shares of Transocean by 11.4% in the 2nd quarter. Aperio Group LLC now owns 62,783 shares of the offshore drilling services provider’s stock worth $844,000 after acquiring an additional 6,427 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Transocean by 5.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 93,379 shares of the offshore drilling services provider’s stock valued at $1,255,000 after purchasing an additional 5,201 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Transocean by 18.5% during the second quarter. Commonwealth Equity Services LLC now owns 69,484 shares of the offshore drilling services provider’s stock valued at $934,000 after purchasing an additional 10,829 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Transocean by 1,210.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 448,990 shares of the offshore drilling services provider’s stock valued at $6,034,000 after purchasing an additional 414,720 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Transocean during the second quarter valued at approximately $9,420,000. 81.47% of the stock is owned by institutional investors.

RIG stock opened at $8.30 on Friday. Transocean LTD has a 52-week low of $8.25 and a 52-week high of $14.47. The company has a quick ratio of 2.77, a current ratio of 3.07 and a debt-to-equity ratio of 0.75.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.16. Transocean had a negative net margin of 64.33% and a negative return on equity of 2.31%. The business had revenue of $816.00 million for the quarter, compared to analyst estimates of $779.19 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Transocean LTD will post -0.72 earnings per share for the current year.

RIG has been the subject of several recent research reports. BMO Capital Markets reissued a “sell” rating and set a $8.00 target price on shares of Transocean in a research note on Friday, August 10th. Piper Jaffray Companies reissued a “hold” rating and set a $13.30 target price on shares of Transocean in a research note on Friday, August 17th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Transocean in a research note on Tuesday, September 4th. ValuEngine lowered shares of Transocean from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, UBS Group set a $15.00 target price on shares of Transocean and gave the company a “buy” rating in a research note on Wednesday, September 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $13.79.

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Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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