Oxbow Advisors LLC Acquires Shares of 925,395 Transocean Ltd. $RIG

Oxbow Advisors LLC acquired a new position in shares of Transocean Ltd. (NYSE:RIG) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 925,395 shares of the offshore drilling services provider’s stock, valued at approximately $6,135,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. boosted its position in shares of Transocean by 22,432.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after acquiring an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC bought a new position in Transocean during the second quarter worth about $26,000. Flagship Harbor Advisors LLC acquired a new stake in Transocean in the 4th quarter worth about $27,000. Elevation Point Wealth Partners LLC acquired a new stake in Transocean in the 3rd quarter worth about $31,000. Finally, Larson Financial Group LLC boosted its holdings in Transocean by 203.8% in the 3rd quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock valued at $34,000 after purchasing an additional 7,399 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Clarkson Capital downgraded Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Susquehanna upped their target price on Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. Finally, TD Cowen upped their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus price target of $6.96.

Transocean Stock Performance

Transocean stock opened at $5.05 on Friday. 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 stock has a market cap of $5.64 billion, a PE ratio of -1.70 and a beta of 1.30. Transocean Ltd. has a 12-month low of $2.53 and a 12-month high of $7.66. The business’s 50-day moving average price is $6.11 and its two-hundred day moving average price is $5.72.

Transocean (NYSE:RIG) last posted its quarterly earnings results 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). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. As a group, analysts expect that Transocean Ltd. will post 0.16 earnings per share for the current fiscal year.

Transocean Company 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.