Quantbot Technologies LP Purchases 829,802 Shares of Transocean Ltd. $RIG

Quantbot Technologies LP boosted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 382.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,046,818 shares of the offshore drilling services provider’s stock after buying an additional 829,802 shares during the period. Quantbot Technologies LP’s holdings in Transocean were worth $2,711,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC increased its holdings in shares of Transocean by 156.2% in the 1st quarter. Jump Financial LLC now owns 1,489,600 shares of the offshore drilling services provider’s stock worth $4,722,000 after buying an additional 908,219 shares during the last quarter. 180 Wealth Advisors LLC grew its position in Transocean by 69.3% in the second quarter. 180 Wealth Advisors LLC now owns 276,851 shares of the offshore drilling services provider’s stock worth $717,000 after acquiring an additional 113,320 shares in the last quarter. Ion Asset Management Ltd. grew its position in Transocean by 7.5% in the first quarter. Ion Asset Management Ltd. now owns 4,300,000 shares of the offshore drilling services provider’s stock worth $13,631,000 after acquiring an additional 300,000 shares in the last quarter. Creative Planning increased its stake in Transocean by 89.6% in the second quarter. Creative Planning now owns 1,072,043 shares of the offshore drilling services provider’s stock valued at $2,777,000 after acquiring an additional 506,624 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Transocean by 1.8% during the second quarter. Geode Capital Management LLC now owns 18,095,187 shares of the offshore drilling services provider’s stock valued at $46,873,000 after purchasing an additional 313,670 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Barclays upped their target price on Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Citigroup increased their price target on shares of Transocean from $3.50 to $4.25 and gave the company a “neutral” rating in a research report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Transocean currently has a consensus rating of “Hold” and a consensus price target of $4.39.

Transocean Trading Down 0.6%

Shares of RIG stock opened at $4.43 on Friday. The business has a 50-day moving average of $3.76 and a 200 day moving average of $3.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.08 and a quick ratio of 0.91. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $4.50. The stock has a market capitalization of $4.87 billion, a PE ratio of -1.35 and a beta of 1.39.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm had revenue of ($1,894.00) million during the quarter, compared to the consensus estimate of $1.01 billion. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The business’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Transocean

In other news, Director Frederik Wilhelm Mohn purchased 1,500,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were acquired at an average price of $4.02 per share, with a total value of $6,030,000.00. Following the acquisition, the director directly owned 96,574,894 shares in the company, valued at approximately $388,231,073.88. The trade was a 1.58% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Thaddeus Vayda sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $4.29, for a total transaction of $128,700.00. Following the completion of the transaction, the executive vice president owned 235,154 shares in the company, valued at $1,008,810.66. The trade was a 11.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have bought 11,000,000 shares of company stock worth $36,460,000 and have sold 624,711 shares worth $2,660,016. 12.27% of the stock is currently owned by corporate insiders.

About Transocean

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.