Maven Securities LTD Purchases New Stake in Transocean Ltd. $RIG

Maven Securities LTD purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,500,000 shares of the offshore drilling services provider’s stock, valued at approximately $4,680,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RIG. Integrated Wealth Concepts LLC grew its stake in shares of Transocean by 12.1% in the first quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock worth $221,000 after purchasing an additional 7,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Transocean by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock valued at $1,376,000 after purchasing an additional 18,957 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. Bank of Montreal Can lifted its holdings in Transocean by 6.4% in the 2nd quarter. Bank of Montreal Can now owns 159,347 shares of the offshore drilling services provider’s stock worth $413,000 after buying an additional 9,527 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in Transocean in the 2nd quarter worth approximately $146,000. 67.73% of the stock is owned by institutional investors.

Transocean Price Performance

Shares of RIG stock opened at $6.59 on Wednesday. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of -2.09 and a beta of 1.40. The business’s fifty day moving average is $5.51 and its 200 day moving average is $4.37. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.96. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.64.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Thursday, February 19th. The offshore drilling services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). Transocean had a negative net margin of 73.52% and a positive return on equity of 0.41%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business posted ($0.09) EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RIG has been the topic of several research analyst reports. Pareto Securities cut Transocean from a “hold” rating to a “sell” rating and set a $5.25 target price on the stock. in a research note on Tuesday, February 10th. Susquehanna raised their price target on Transocean from $6.50 to $7.50 and gave the stock a “positive” rating in a research note on Monday, February 23rd. Citigroup lifted their price target on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Finally, Barclays cut shares of Transocean from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $4.50 to $6.00 in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $6.38.

Insider Activity

In other Transocean news, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the sale, the executive vice president owned 268,025 shares in the company, valued at approximately $1,704,639. This represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keelan Adamson sold 58,687 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the transaction, the chief executive officer directly owned 1,222,182 shares of the company’s stock, valued at $6,110,910. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 159,903 shares of company stock valued at $906,098. 12.54% of the stock is owned by company insiders.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.