CenterBook Partners LP Makes New Investment in Transocean Ltd. $RIG

CenterBook Partners LP purchased a new position in Transocean Ltd. (NYSE:RIG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 699,993 shares of the offshore drilling services provider’s stock, valued at approximately $2,891,000.

Several other hedge funds have also bought and sold shares of RIG. Integrated Wealth Concepts LLC lifted its stake in Transocean by 12.1% in the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $1,376,000 after purchasing an additional 18,957 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Transocean by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after purchasing an additional 5,719,637 shares in the last quarter. Cetera Investment Advisers lifted its stake in Transocean by 5.7% in the 2nd quarter. Cetera Investment Advisers now owns 233,984 shares of the offshore drilling services provider’s stock worth $606,000 after purchasing an additional 12,532 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Transocean by 29.2% in the 2nd quarter. Invesco Ltd. now owns 1,032,774 shares of the offshore drilling services provider’s stock worth $2,675,000 after purchasing an additional 233,458 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RIG shares. Susquehanna boosted their target price on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Morgan Stanley boosted their target price on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Finally, 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 report on Monday, February 9th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.96.

Transocean Stock Performance

Shares of NYSE:RIG opened at $6.16 on Tuesday. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -2.07 and a beta of 1.29. Transocean Ltd. has a 12 month low of $2.51 and a 12 month high of $7.66. The firm’s 50-day moving average is $6.50 and its 200 day moving average is $5.58. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Research analysts predict that Transocean Ltd. will post 0.17 EPS 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.