Glenorchy Capital Ltd Invests $1.98 Million in Transocean Ltd. (NYSE:RIG)

Glenorchy Capital Ltd acquired a new position in Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 311,573 shares of the offshore drilling services provider’s stock, valued at approximately $1,978,000. Transocean comprises approximately 0.8% of Glenorchy Capital Ltd’s portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI grew its stake in shares of Transocean by 3,800.0% in the third quarter. National Bank of Canada FI now owns 5,850 shares of the offshore drilling services provider’s stock worth $46,000 after acquiring an additional 5,700 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Transocean by 1,489.8% in the fourth quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock worth $54,000 after acquiring an additional 8,000 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Transocean in the third quarter worth $83,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Transocean in the third quarter worth $87,000. Finally, Southern Capital Advisors LLC bought a new position in Transocean in the fourth quarter worth $83,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Price Performance

Shares of Transocean stock traded up $0.13 during trading on Tuesday, reaching $5.94. The company’s stock had a trading volume of 16,059,997 shares, compared to its average volume of 17,962,961. The stock has a 50-day moving average price of $5.66 and a two-hundred day moving average price of $6.04. The company has a current ratio of 1.52, a quick ratio of 1.22 and a debt-to-equity ratio of 0.68. Transocean Ltd. has a one year low of $4.45 and a one year high of $8.88. The stock has a market capitalization of $4.87 billion, a P/E ratio of -4.68 and a beta of 2.77.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, February 19th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. Transocean had a negative return on equity of 7.13% and a negative net margin of 33.69%. The business had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $779.17 million. During the same period in the previous year, the business posted ($0.49) earnings per share. As a group, sell-side analysts anticipate that Transocean Ltd. will post 0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on RIG. Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and raised their target price for the stock from $5.50 to $9.00 in a research report on Monday, April 8th. Citigroup reduced their target price on Transocean from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Barclays reduced their target price on Transocean from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, February 20th. Finally, Bank of America raised their target price on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Transocean has a consensus rating of “Hold” and a consensus target price of $8.22.

Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.