Quantinno Capital Management LP Has $982,000 Position in Transocean Ltd. $RIG

by · The Markets Daily

Quantinno Capital Management LP increased its holdings in shares of Transocean Ltd. (NYSE:RIG – Free Report) by 206.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,140 shares of the offshore drilling services provider’s stock after purchasing an additional 99,869 shares during the period. Quantinno Capital Management LP’s holdings in Transocean were worth $982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RIG. TD Waterhouse Canada Inc. raised its holdings in Transocean by 22,432.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after buying an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC acquired a new position in shares of Transocean in the second quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Transocean in the third quarter valued at approximately $31,000. Larson Financial Group LLC increased its position in shares of Transocean by 203.8% during the third quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock worth $34,000 after acquiring an additional 7,399 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Transocean during the second quarter worth $34,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Transocean news, Director Chad C. Deaton acquired 35,000 shares of Transocean stock in a transaction dated Thursday, July 2nd. The stock was bought at an average cost of $4.95 per share, for a total transaction of $173,250.00. Following the purchase, the director directly owned 237,421 shares in the company, valued at approximately $1,175,233.95. This represents a 17.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 9.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays cut their price objective on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Friday, July 17th. Fearnley Fonds raised Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. TD Cowen boosted their price target on Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Finally, Susquehanna reduced their price objective on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.68.

Read Our Latest Research Report on RIG

Transocean Price Performance

NYSE RIG opened at $5.76 on Monday. The firm’s 50 day moving average is $5.34 and its 200-day moving average is $5.95. The company has a quick ratio of 1.27, a current ratio of 1.59 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $6.44 billion, a PE ratio of -3.07, a price-to-earnings-growth ratio of 3.71 and a beta of 1.32. Transocean Ltd. has a 12-month low of $2.76 and a 12-month high of $7.66.

Transocean (NYSE:RIG – Get Free Report) last announced its earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $956.64 million. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.06) earnings per share. Equities research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

About Transocean

(Free Report)

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.

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