925,395 Shares in Transocean Ltd. $RIG Bought by Oxbow Advisors LLC

Oxbow Advisors LLC bought a new stake in Transocean Ltd. (NYSE:RIG) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 925,395 shares of the offshore drilling services provider’s stock, valued at approximately $6,135,000. Oxbow Advisors LLC owned approximately 0.08% of Transocean at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. boosted its stake in shares of Transocean by 22,432.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after buying an additional 6,281 shares during the last quarter. Josh Arnold Investment Consultant LLC acquired a new stake in shares of Transocean in the second quarter valued at about $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Transocean in the fourth quarter valued at about $27,000. Elevation Point Wealth Partners LLC bought a new stake in Transocean during the third quarter worth about $31,000. Finally, Larson Financial Group LLC boosted its position in Transocean by 203.8% during the third quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock valued at $34,000 after purchasing an additional 7,399 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Price Performance

NYSE:RIG opened at $5.05 on Friday. The company has a market cap of $5.64 billion, a P/E ratio of -1.70 and a beta of 1.30. The firm’s fifty day moving average price is $6.11 and its two-hundred day moving average price is $5.72. Transocean Ltd. has a one year low of $2.53 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.

Transocean (NYSE:RIG) last posted its 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 company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts expect that Transocean Ltd. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

RIG has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Susquehanna increased their price objective on Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a report on Tuesday, April 7th. TD Cowen raised their target price on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Finally, Clarkson Capital lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.96.

Transocean 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.