OxFORD Asset Management LLP Purchases New Holdings in Transocean Ltd. (RIG)
OxFORD Asset Management LLP purchased a new position in shares of Transocean Ltd. (NYSE:RIG) in the third quarter, according to its most recent filing with the SEC. The firm purchased 308,048 shares of the offshore drilling services provider’s stock, valued at approximately $3,315,000. OxFORD Asset Management LLP owned 0.08% of Transocean at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of RIG. Public Employees Retirement Association of Colorado grew its holdings in Transocean by 12.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after acquiring an additional 1,394 shares during the period. Dumont & Blake Investment Advisors LLC acquired a new stake in Transocean during the 3rd quarter worth about $108,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Transocean during the 2nd quarter worth about $111,000. Advisor Partners LLC acquired a new stake in Transocean during the 2nd quarter worth about $112,000. Finally, Dupont Capital Management Corp acquired a new stake in Transocean during the 2nd quarter worth about $113,000. Hedge funds and other institutional investors own 73.09% of the company’s stock.
Transocean Ltd. (RIG) traded down $0.15 during trading hours on Friday, hitting $9.91. 9,927,294 shares of the company were exchanged, compared to its average volume of 9,054,056. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.36 and a quick ratio of 2.13. The company has a market cap of $3,935.61, a PE ratio of 12.57 and a beta of 1.80. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66.
Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. The company had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. Transocean’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. sell-side analysts anticipate that Transocean Ltd. will post -0.34 EPS for the current year.
Several analysts have recently commented on the company. Jefferies Group set a $9.00 target price on Transocean and gave the company a “hold” rating in a research note on Wednesday, August 16th. Nomura reduced their target price on Transocean from $8.00 to $7.00 and set a “reduce” rating for the company in a research note on Thursday, August 17th. ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Royal Bank Of Canada restated a “hold” rating and issued a $11.00 target price on shares of Transocean in a research note on Friday, September 1st. Finally, Pareto Securities upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Eleven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $12.31.
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Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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