High River Limited Partnership disclosed that they own 1.5% of Transocean Ltd. (NYSE:RIG) in a Schedule 13D/A disclosure that was filed with the SEC on Wednesday, September 28th. The investor owns 4,382,321 shares of the stock valued at approximately $43,910,856. The reporting parties listed on the disclosure included High River Limited Partnership, Hopper Investments LLC, Barberry Corp, Icahn Partners Master Fund LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, Iph Gp LLC, Icahn Enterprises Holdings LP, Icahn Enterprises GP Inc and Beckton Corp. The disclosure is available through the SEC website at this link.
Several other hedge funds and other institutional investors also recently bought and sold shares of RIG. Meiji Yasuda Asset Management Co Ltd. bought a new position in Transocean during the first quarter worth approximately $108,000. Simmons Bank bought a new position in Transocean during the first quarter worth approximately $110,000. Lee Danner & Bass Inc. bought a new position in Transocean during the second quarter worth approximately $119,000. Mariner Wealth Advisors LLC bought a new position in Transocean during the second quarter worth approximately $120,000. Finally, Capstone Investment Advisors LLC bought a new position in Transocean during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.
Shares of Transocean Ltd. (NYSE:RIG) traded up 6.37% during midday trading on Wednesday, hitting $10.02. 42,938,544 shares of the stock were exchanged. Transocean Ltd. has a one year low of $7.67 and a one year high of $17.19. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 2.92 and a beta of 1.90. The firm has a 50 day moving average of $9.81 and a 200-day moving average of $10.37.
Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, August 3rd. The offshore drilling services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. Transocean had a return on equity of 8.46% and a net margin of 21.91%. The firm earned $943 million during the quarter. During the same quarter last year, the business earned $1.11 EPS. Transocean’s revenue for the quarter was down 49.9% compared to the same quarter last year. Equities analysts expect that Transocean Ltd. will post $0.95 EPS for the current year.
RIG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, July 5th. KLR Group restated a “buy” rating and issued a $19.00 price target on shares of Transocean in a report on Wednesday, June 15th. Vetr upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $10.68 price target on the stock in a report on Monday, August 1st. Zephirin Group upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Monday, September 19th. Finally, Evercore ISI upgraded shares of Transocean from a “sell” rating to a “hold” rating and upped their price target for the stock from $11.00 to $12.00 in a report on Wednesday, June 29th. Ten research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company. Transocean presently has an average rating of “Hold” and a consensus target price of $10.18.
Transocean Company Profile
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells. The Company operates through the contract drilling services segment.
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