Transocean Ltd. $RIG Stake Lifted by Clough Capital Partners L P

Clough Capital Partners L P lifted its stake in shares of Transocean Ltd. (NYSE:RIG) by 157.3% during the third quarter, Holdings Channel.com reports. The fund owned 3,958,053 shares of the offshore drilling services provider’s stock after purchasing an additional 2,419,796 shares during the period. Clough Capital Partners L P’s holdings in Transocean were worth $12,349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIG. Vanguard Group Inc. lifted its position in Transocean by 19.3% in the third quarter. Vanguard Group Inc. now owns 94,519,248 shares of the offshore drilling services provider’s stock worth $294,900,000 after purchasing an additional 15,315,289 shares during the period. American Century Companies Inc. increased its position in shares of Transocean by 12.8% during the 3rd 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. Dalal Street LLC bought a new stake in shares of Transocean in the 3rd quarter worth $76,260,000. Two Sigma Investments LP lifted its holdings in shares of Transocean by 0.3% in the third quarter. Two Sigma Investments LP now owns 18,636,188 shares of the offshore drilling services provider’s stock valued at $58,145,000 after buying an additional 64,305 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Transocean in the third quarter valued at $57,720,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

RIG has been the topic of a number of research analyst reports. Fearnley Fonds lowered Transocean from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Citigroup upped their price target on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. Barclays cut shares of Transocean from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.50 to $6.00 in a research note on Wednesday, February 18th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Finally, Pareto Securities lowered shares of 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. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Transocean presently has an average rating of “Reduce” and an average target price of $6.38.

Insiders Place Their Bets

In related news, CEO Keelan Adamson sold 58,687 shares of Transocean stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total transaction of $293,435.00. Following the completion of the sale, the chief executive officer owned 1,222,182 shares of the company’s stock, valued at approximately $6,110,910. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Roderick James Mackenzie sold 78,370 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the completion of the transaction, the executive vice president owned 268,025 shares in the company, valued at $1,704,639. This trade represents a 22.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,903 shares of company stock worth $906,098 over the last ninety days. 12.27% of the stock is currently owned by company insiders.

Transocean Stock Performance

Shares of RIG opened at $6.37 on Friday. The company’s 50 day moving average price is $5.43 and its 200 day moving average price is $4.32. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $6.96. The company has a market capitalization of $7.02 billion, a PE ratio of -2.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.56.

Transocean (NYSE:RIG) last released its earnings results 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 company 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) EPS. Research analysts expect that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

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.