Monashee Investment Management LLC Purchases Shares of 300,000 Transocean Ltd. $RIG

Monashee Investment Management LLC bought a new position in Transocean Ltd. (NYSE:RIG) during the third quarter, Holdings Channel reports. The firm bought 300,000 shares of the offshore drilling services provider’s stock, valued at approximately $936,000.

Several other institutional investors have also added to or reduced their stakes in RIG. American Century Companies Inc. raised its position in Transocean by 12.8% during the third quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock valued at $82,544,000 after purchasing an additional 3,006,786 shares during the period. Ninepoint Partners LP bought a new position in shares of Transocean during the 3rd quarter valued at approximately $18,720,000. Xponance Inc. raised its holdings in Transocean by 16.2% during the 3rd quarter. Xponance Inc. now owns 67,633 shares of the offshore drilling services provider’s stock valued at $211,000 after buying an additional 9,417 shares during the period. US Bancorp DE lifted its position in Transocean by 403.4% in the third quarter. US Bancorp DE now owns 22,496 shares of the offshore drilling services provider’s stock worth $70,000 after buying an additional 18,027 shares during the last quarter. Finally, Avant Capital LLC purchased a new position in Transocean during the third quarter worth $47,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RIG shares. Fearnley Fonds lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Barclays downgraded shares of Transocean from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $4.50 to $6.00 in a research note on Wednesday, February 18th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th. Citigroup raised their price target on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Pareto Securities downgraded Transocean from a “hold” rating to a “sell” rating and set a $5.25 price objective on the stock. in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $5.86.

Insiders Place Their Bets

In related news, CEO Keelan Adamson sold 58,687 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total value of $293,435.00. Following the completion of the transaction, the chief executive officer owned 1,222,182 shares in the company, valued at $6,110,910. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Roderick James Mackenzie sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $4.48, for a total value of $156,800.00. Following the completion of the transaction, the executive vice president owned 212,072 shares of the company’s stock, valued at approximately $950,082.56. The trade was a 14.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 182,970 shares of company stock valued at $863,432. Corporate insiders own 12.27% of the company’s stock.

Transocean Trading Up 1.5%

Shares of NYSE:RIG opened at $6.48 on Friday. The company has a market capitalization of $7.14 billion, a PE ratio of -2.06 and a beta of 1.46. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.96. The business’s fifty day simple moving average is $5.00 and its 200-day simple moving average is $4.09.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Transocean had a positive return on equity of 0.41% and a negative net margin of 73.52%.The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. As a group, equities research analysts predict that Transocean Ltd. will post 0.14 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.