Key Points
- Director Perestroika purchased 1,500,000 Transocean shares at an average price of $4.02 (totaling $6.03M), increasing their stake to 96,574,894 shares (a 1.58% rise) as disclosed in an SEC filing.
- Transocean trades around $4.04 with a market cap of $4.45B and a 12‑month range of $1.97–$4.45; analysts' consensus is a Hold with an average price target of $4.39, and firms like Citi and Barclays recently raised targets.
- The company beat quarterly EPS estimates ($0.06 vs. $0.04) and reported revenue up 8.4% year‑over‑year, but profitability remains weak with a negative net margin (~-75.7%) and a negative P/E.
Transocean Ltd. (NYSE:RIG - Get Free Report) Director Perestroika bought 1,500,000 shares of the business's stock in a transaction dated Monday, November 24th. The stock was acquired at an average cost of $4.02 per share, for a total transaction of $6,030,000.00. Following the purchase, the director owned 96,574,894 shares in the company, valued at approximately $388,231,073.88. This trade represents a 1.58% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Transocean Stock Up 0.5%
Shares of Transocean stock opened at $4.04 on Wednesday. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $4.45. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of -1.23 and a beta of 2.65. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $3.62 and a 200 day moving average price of $3.14.
Transocean (NYSE:RIG - Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Transocean had a positive return on equity of 0.43% and a negative net margin of 75.71%.The company had revenue of ($1,894.00) million for the quarter, compared to analyst estimates of $1.01 billion. Transocean's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts recently commented on RIG shares. Citigroup boosted their price target on Transocean from $3.50 to $4.25 and gave the stock a "neutral" rating in a research report on Friday, November 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Transocean in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Barclays lifted their price target on shares of Transocean from $4.00 to $4.50 and gave the stock an "overweight" rating in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $4.39.
Check Out Our Latest Stock Report on RIG
Hedge Funds Weigh In On Transocean
Several institutional investors and hedge funds have recently made changes to their positions in RIG. Penn Capital Management Company LLC grew its position in shares of Transocean by 9.8% during the third quarter. Penn Capital Management Company LLC now owns 3,499,280 shares of the offshore drilling services provider's stock worth $10,943,000 after buying an additional 313,224 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Transocean during the 3rd quarter valued at $704,000. Maven Securities LTD bought a new position in Transocean during the 3rd quarter valued at $4,680,000. Advisory Services Network LLC grew its holdings in Transocean by 20.4% during the 3rd quarter. Advisory Services Network LLC now owns 363,262 shares of the offshore drilling services provider's stock worth $1,133,000 after acquiring an additional 61,625 shares in the last quarter. Finally, Abel Hall LLC increased its position in shares of Transocean by 81.4% in the 3rd quarter. Abel Hall LLC now owns 46,964 shares of the offshore drilling services provider's stock worth $147,000 after purchasing an additional 21,073 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Transocean Company Profile
(
Get Free Report)
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.
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