Transocean Ltd. $RIG Shares Newly Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG – Free Report) in the 3rd quarter, HoldingsChannel reports. The fund bought 1,739,000 shares of the offshore drilling services provider’s stock, valued at approximately $9,112,000.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of Transocean by 27.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the offshore drilling services provider’s stock valued at $43,000 after acquiring an additional 1,391 shares during the period. Versant Capital Management Inc boosted its position in shares of Transocean by 15.6% during the 3rd quarter. Versant Capital Management Inc now owns 15,550 shares of the offshore drilling services provider’s stock worth $81,000 after purchasing an additional 2,099 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Transocean by 19.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock worth $101,000 after purchasing an additional 4,043 shares during the period. Private Advisor Group LLC increased its holdings in Transocean by 16.4% in the 1st quarter. Private Advisor Group LLC now owns 31,876 shares of the offshore drilling services provider’s stock valued at $211,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Root Financial Partners LLC increased its holdings in Transocean by 192.6% in the 1st quarter. Root Financial Partners LLC now owns 7,787 shares of the offshore drilling services provider’s stock valued at $52,000 after purchasing an additional 5,126 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RIG shares. Susquehanna cut their target price on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Barclays lowered their price target on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Zacks Research raised Transocean from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Thursday. Finally, Fearnley Fonds upgraded Transocean from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.68.

View Our Latest Analysis on Transocean

Transocean Price Performance

Shares of NYSE RIG opened at $5.62 on Friday. The stock’s 50-day moving average is $5.65 and its two-hundred day moving average is $5.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.59 and a quick ratio of 1.27. Transocean Ltd. has a 1-year low of $3.14 and a 1-year high of $7.66. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -2.99, a price-to-earnings-growth ratio of 4.16 and a beta of 1.41.

Transocean (NYSE:RIG – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $966.00 million for the quarter, compared to analyst estimates of $956.64 million. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%. Transocean’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned ($1.06) EPS. Analysts forecast that Transocean Ltd. will post 0.18 EPS for the current fiscal year.

Transocean Profile

(Free Report)

Transocean Ltd. is an offshore contract drilling company that provides drilling services to the international oil and gas industry. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater and harsh-environment drillships and semisubmersible rigs, which are contracted by energy companies to drill exploration, appraisal and development wells.

Transocean’s services support offshore drilling programs in challenging environments around the world. Its operations have included activity in the Gulf of Mexico, Brazil, the North Sea, West Africa and other major offshore regions.

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