Transocean Ltd. (NYSE:RIG) Shares Acquired by Goehring & Rozencwajg Associates LLC

Goehring & Rozencwajg Associates LLC increased its stake in Transocean Ltd. (NYSE:RIG) by 18.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 807,774 shares of the offshore drilling services provider’s stock after acquiring an additional 127,300 shares during the period. Goehring & Rozencwajg Associates LLC owned approximately 0.09% of Transocean worth $4,322,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of RIG. Capital World Investors boosted its position in shares of Transocean by 34.7% in the fourth quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock worth $247,741,000 after acquiring an additional 10,049,077 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after acquiring an additional 5,856,414 shares during the last quarter. Primecap Management Co. CA lifted its position in Transocean by 11.4% during the fourth quarter. Primecap Management Co. CA now owns 50,699,389 shares of the offshore drilling services provider’s stock valued at $321,941,000 after buying an additional 5,168,000 shares in the last quarter. 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 buying an additional 4,107,956 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Transocean during the second quarter valued at approximately $16,179,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Trading Down 2.1 %

NYSE RIG opened at $4.57 on Thursday. The company’s fifty day simple moving average is $5.00 and its 200-day simple moving average is $5.46. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $8.71. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.30 billion, a P/E ratio of -8.79 and a beta of 2.79.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The company had revenue of $861.00 million during the quarter, compared to the consensus estimate of $862.25 million. Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. Equities research analysts predict that Transocean Ltd. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the purchase, the director now owns 89,574,894 shares in the company, valued at $468,476,695.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the purchase, the director now owns 89,574,894 shares in the company, valued at $468,476,695.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Perestroika bought 1,500,000 shares of the stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The disclosure for this purchase can be found here. Insiders own 13.16% of the company’s stock.

Analysts Set New Price Targets

RIG has been the topic of a number of recent research reports. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley reduced their price target on shares of Transocean from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday. StockNews.com raised shares of Transocean to a “sell” rating in a research report on Monday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 price target on shares of Transocean in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.00.

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.