AQR Capital Management LLC Sells 64,674 Shares of Transocean Ltd. (NYSE:RIG)

AQR Capital Management LLC cut its holdings in Transocean Ltd. (NYSE:RIG) by 19.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 272,116 shares of the offshore drilling services provider’s stock after selling 64,674 shares during the period. AQR Capital Management LLC’s holdings in Transocean were worth $1,456,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Murphy Pohlad Asset Management LLC boosted its holdings in Transocean by 1.7% in 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 period. Traynor Capital Management Inc. raised its position in shares of Transocean by 5.2% during 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 buying an additional 1,650 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of 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 buying an additional 1,767 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Transocean by 11.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock valued at $176,000 after buying an additional 2,743 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors raised its position in shares of Transocean by 6.6% during the 1st quarter. Vanguard Capital Wealth Advisors now owns 48,200 shares of the offshore drilling services provider’s stock valued at $303,000 after buying an additional 3,000 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Thursday. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of Transocean in a research report on Friday, August 2nd. Morgan Stanley lifted their target price on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Finally, DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two equities research 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’s stock. Based on data from MarketBeat, Transocean currently has an average rating of “Hold” and an average price target of $7.13.

Transocean Price Performance

RIG stock opened at $4.23 on Friday. The firm’s 50-day moving average price is $4.64 and its two-hundred day moving average price is $5.33. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $7.96. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -8.13 and a beta of 2.79. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63.

Transocean (NYSE:RIG) last released its quarterly earnings data 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). Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. Transocean’s revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts predict that Transocean Ltd. will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Transocean

In related news, Director Perestroika bought 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 purchase, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Perestroika bought 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 purchase, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost 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 approximately $468,476,695.62. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.