Sei Investments Co. Boosts Holdings in Transocean Ltd. $RIG

Sei Investments Co. raised its stake in shares of Transocean Ltd. (NYSE:RIG) by 69.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,017 shares of the offshore drilling services provider’s stock after buying an additional 198,657 shares during the quarter. Sei Investments Co.’s holdings in Transocean were worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RIG. TD Waterhouse Canada Inc. boosted its position in shares of Transocean by 22,432.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after acquiring an additional 6,281 shares during the last quarter. Josh Arnold Investment Consultant LLC bought a new stake in Transocean in the 2nd quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new stake in Transocean in the 4th quarter worth $27,000. Elevation Point Wealth Partners LLC purchased a new stake in Transocean in the 3rd quarter worth $31,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Transocean by 203.8% during the 3rd 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. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Transocean

In other Transocean news, Director Chad C. Deaton purchased 35,000 shares of Transocean stock in a transaction dated Thursday, July 2nd. The shares were purchased at an average cost of $4.95 per share, for a total transaction of $173,250.00. Following the completion of the acquisition, the director owned 237,421 shares in the company, valued at $1,175,233.95. This represents a 17.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the subject of a number of research analyst reports. Susquehanna cut their price objective on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Morgan Stanley increased their price target on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Barclays upgraded 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 reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Friday, July 17th. Finally, TD Cowen increased their target price on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Transocean has an average rating of “Hold” and a consensus price target of $6.82.

Transocean Trading Up 2.0%

Shares of RIG opened at $5.26 on Friday. The company’s fifty day simple moving average is $5.38 and its 200-day simple moving average is $5.90. The company has a market cap of $5.88 billion, a P/E ratio of -2.80, a P/E/G ratio of 3.68 and a beta of 1.32. The company has a current ratio of 1.59, a quick ratio of 1.20 and a debt-to-equity ratio of 0.56. Transocean Ltd. has a twelve month low of $2.76 and a twelve month high of $7.66.

Transocean (NYSE:RIG) last released its quarterly earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The firm had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $956.64 million. During the same period in the previous year, the company earned ($1.06) EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts expect that Transocean Ltd. will post 0.13 EPS for the current year.

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.