Transocean Ltd. $RIG Holdings Raised by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its stake in Transocean Ltd. (NYSE:RIG) by 37.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 417,897 shares of the offshore drilling services provider’s stock after acquiring an additional 113,203 shares during the quarter. GSA Capital Partners LLP’s holdings in Transocean were worth $1,726,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its holdings in shares of Transocean by 16.4% during the 4th quarter. ProShare Advisors LLC now owns 169,883 shares of the offshore drilling services provider’s stock valued at $702,000 after purchasing an additional 23,963 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Transocean by 33.5% during the 4th quarter. HighTower Advisors LLC now owns 2,085,842 shares of the offshore drilling services provider’s stock valued at $8,615,000 after purchasing an additional 523,528 shares in the last quarter. DNB Asset Management AS bought a new position in shares of Transocean during the 4th quarter valued at $73,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Transocean during the 4th quarter valued at $219,000. Finally, Bailard Inc. bought a new position in shares of Transocean during the 4th quarter valued at $246,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RIG. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $6.00 to $8.00 in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Susquehanna raised their price target on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a report on Tuesday, April 7th. Pareto Securities downgraded shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 price target on the stock. in a report on Tuesday, February 10th. Finally, Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.96.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 78,370 shares of Transocean stock in a transaction 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 owned 268,025 shares in the company, valued at $1,704,639. This trade represents a 22.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.70% of the stock is owned by company insiders.

Transocean Stock Performance

Shares of RIG opened at $7.44 on Wednesday. The company has a market capitalization of $8.30 billion, a PE ratio of -2.50 and a beta of 1.34. Transocean Ltd. has a one year low of $2.34 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.20. The company’s fifty day moving average price is $6.50 and its 200 day moving average price is $5.34.

Transocean (NYSE:RIG) last announced its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. As a group, analysts expect that Transocean Ltd. will post 0.16 earnings per share for the current year.

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.