Havemeyer Place LP Makes New $891,000 Investment in Transocean Ltd. $RIG

Havemeyer Place LP acquired a new position in Transocean Ltd. (NYSE:RIG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 215,700 shares of the offshore drilling services provider’s stock, valued at approximately $891,000.

Several other institutional investors and hedge funds have also bought and sold shares of RIG. TD Waterhouse Canada Inc. lifted its holdings in Transocean by 22,432.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after buying an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC purchased a new position in shares of Transocean in the 2nd quarter valued at approximately $26,000. Flagship Harbor Advisors LLC purchased a new position in shares of Transocean in the 4th quarter valued at approximately $27,000. Vestmark Advisory Solutions Inc. purchased a new position in shares of Transocean in the 3rd quarter valued at approximately $31,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Transocean in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Stock Up 3.4%

RIG stock opened at $6.16 on Tuesday. Transocean Ltd. has a twelve month low of $2.51 and a twelve month high of $7.66. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.87 billion, a PE ratio of -2.07 and a beta of 1.29. The business has a 50 day moving average of $6.50 and a 200 day moving average of $5.58.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business earned ($0.10) EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts forecast that Transocean Ltd. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RIG. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $6.00 to $8.00 in a research note on Thursday, May 7th. Pareto Securities cut Transocean from a “hold” rating to a “sell” rating and set a $5.25 target price for the company. in a research note on Tuesday, February 10th. Clarkson Capital cut Transocean from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. BTIG Research raised their target price on Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Fearnley Fonds cut Transocean from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.96.

Transocean Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.