Pinpoint Asset Management Singapore Pte. Ltd. Purchases 94,672 Shares of Transocean Ltd. $RIG

Pinpoint Asset Management Singapore Pte. Ltd. lifted its stake in Transocean Ltd. (NYSE:RIG) by 358.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,056 shares of the offshore drilling services provider’s stock after purchasing an additional 94,672 shares during the quarter. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Transocean were worth $500,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Transocean by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock valued at $400,636,000 after purchasing an additional 2,487,015 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Transocean by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider’s stock valued at $179,531,000 after purchasing an additional 7,516,589 shares during the last quarter. American Century Companies Inc. raised its position in shares of Transocean by 12.8% in the 3rd quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock valued at $82,544,000 after purchasing an additional 3,006,786 shares during the last quarter. Dalal Street LLC purchased a new position in shares of Transocean in the 3rd quarter valued at approximately $76,260,000. Finally, Geode Capital Management LLC raised its position in shares of Transocean by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 22,797,180 shares of the offshore drilling services provider’s stock valued at $94,168,000 after purchasing an additional 1,515,893 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

RIG opened at $6.05 on Friday. Transocean Ltd. has a 12-month low of $2.51 and a 12-month high of $7.66. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $6.75 billion, a PE ratio of -2.03 and a beta of 1.28. The firm has a 50 day moving average of $6.44 and a two-hundred day moving average of $5.62.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted ($0.10) earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts anticipate that Transocean Ltd. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen increased their price objective on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $6.00 to $8.00 in a research report on Thursday, May 7th. Clarkson Capital lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, Susquehanna increased their price objective on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Transocean has a consensus rating of “Hold” and a consensus price target of $6.96.

About Transocean

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.