Glenorchy Capital Ltd Increases Position in Transocean Ltd. (NYSE:RIG)

Glenorchy Capital Ltd increased its position in Transocean Ltd. (NYSE:RIG) by 34.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 586,219 shares of the offshore drilling services provider’s stock after acquiring an additional 148,755 shares during the period. Transocean makes up about 0.8% of Glenorchy Capital Ltd’s portfolio, making the stock its 19th biggest holding. Glenorchy Capital Ltd owned about 0.07% of Transocean worth $2,491,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake in Transocean by 11.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock valued at $176,000 after acquiring an additional 2,743 shares during the period. Vanguard Group Inc. lifted its position in Transocean by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock valued at $435,306,000 after purchasing an additional 4,107,956 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Transocean in the first quarter valued at $1,521,000. International Assets Investment Management LLC grew its position in Transocean by 16.2% during the 1st quarter. International Assets Investment Management LLC now owns 40,062 shares of the offshore drilling services provider’s stock worth $255,000 after purchasing an additional 5,600 shares during the period. Finally, Traynor Capital Management Inc. raised its stake in shares of Transocean by 5.2% during the 1st quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock valued at $209,000 after buying an additional 1,650 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Stock Down 0.5 %

RIG opened at $4.24 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a twelve month low of $3.85 and a twelve month high of $7.56. The company has a market cap of $3.99 billion, a PE ratio of -8.15 and a beta of 2.79. The company has a 50-day moving average price of $4.53 and a 200 day moving average price of $5.23.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter last year, the business earned ($0.15) EPS. The business’s revenue was up 18.1% compared to the same quarter last year. Sell-side analysts expect that Transocean Ltd. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of Transocean stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the transaction, the director now directly owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Perestroika acquired 1,500,000 shares of the stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the purchase, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the purchase, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on RIG shares. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley lifted their target price on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Susquehanna lowered their price target on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a report on Friday, October 11th. Benchmark downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Finally, Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Transocean has an average rating of “Hold” and an average target price of $6.88.

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.