Xponance Inc. Acquires Shares of 46,624 Transocean Ltd. (NYSE:RIG)

Xponance Inc. purchased a new position in Transocean Ltd. (NYSE:RIG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 46,624 shares of the offshore drilling services provider’s stock, valued at approximately $249,000.

Other hedge funds have also bought and sold shares of the company. Murphy Pohlad Asset Management LLC grew its position in Transocean by 1.7% during the 1st quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider’s stock valued at $604,000 after purchasing an additional 1,600 shares during the last quarter. Traynor Capital Management Inc. lifted its position in Transocean by 5.2% in 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 acquiring an additional 1,650 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Transocean by 8.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock valued at $140,000 after purchasing an additional 1,767 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Transocean by 11.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock worth $176,000 after purchasing an additional 2,743 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its stake in shares of Transocean by 6.6% in the first quarter. Vanguard Capital Wealth Advisors now owns 48,200 shares of the offshore drilling services provider’s stock worth $303,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Down 1.4 %

NYSE RIG opened at $4.33 on Thursday. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $8.03. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.79 billion, a P/E ratio of -8.33 and a beta of 2.79. The stock’s 50-day moving average price is $4.79 and its 200-day moving average price is $5.39.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The firm had revenue of $861.00 million for the quarter, compared to the consensus estimate of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share. On average, equities research analysts predict that Transocean Ltd. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RIG. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Transocean to a “sell” rating in a research note on Thursday, September 26th. Morgan Stanley reduced their price objective on Transocean from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Finally, Benchmark restated a “buy” rating and set a $8.00 price target on shares of Transocean in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

Insider Activity

In other Transocean news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the transaction, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the purchase, the director now directly owns 89,574,894 shares in the company, valued at $468,476,695.62. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Perestroika acquired 1,500,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, 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. Company insiders own 13.16% of the company’s stock.

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.