Mirabella Financial Services LLP Invests $2.80 Million in Transocean Ltd. $RIG

Mirabella Financial Services LLP bought a new stake in shares of Transocean Ltd. (NYSE:RIG) during the 3rd quarter, HoldingsChannel reports. The firm bought 897,923 shares of the offshore drilling services provider’s stock, valued at approximately $2,802,000.

Several other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted 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 valued at $221,000 after purchasing an additional 7,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Transocean by 4.6% in 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 buying an additional 18,957 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Transocean by 88.9% during the first 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 acquiring an additional 5,719,637 shares in the last quarter. Bank of Montreal Can increased its position in shares of Transocean by 6.4% during the second quarter. Bank of Montreal Can now owns 159,347 shares of the offshore drilling services provider’s stock worth $413,000 after acquiring an additional 9,527 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in shares of Transocean in the second quarter worth about $146,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RIG. Barclays downgraded Transocean from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.50 to $6.00 in a report on Wednesday, February 18th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th. BTIG Research boosted their target price on shares of Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Finally, Susquehanna boosted their price objective on Transocean from $6.50 to $7.50 and gave the company a “positive” rating in a report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Transocean currently has an average rating of “Reduce” and an average target price of $6.38.

Transocean Stock Down 4.8%

Shares of NYSE:RIG opened at $6.27 on Thursday. The company’s fifty day moving average is $5.55 and its two-hundred day moving average is $4.38. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.56. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $6.96. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of -1.99 and a beta of 1.40.

Transocean (NYSE:RIG) last posted its quarterly earnings results 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current year.

Insider Transactions at Transocean

In other Transocean news, CEO Keelan Adamson sold 58,687 shares of Transocean stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total value of $293,435.00. Following the completion of the transaction, the chief executive officer directly owned 1,222,182 shares in the company, valued at $6,110,910. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Roderick James Mackenzie sold 78,370 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the transaction, the executive vice president directly owned 268,025 shares of the company’s stock, valued at $1,704,639. This trade represents a 22.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,903 shares of company stock worth $906,098 in the last three months. 12.27% of the stock is currently owned by corporate 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.