Advisor Group Inc. boosted its holdings in Transocean Ltd. (NYSE:RIG) by 21.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,387 shares of the offshore drilling services provider’s stock after purchasing an additional 20,753 shares during the period. Advisor Group Inc.’s holdings in Transocean were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in RIG. Public Employees Retirement Association of Colorado grew its position in Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after purchasing an additional 1,394 shares in the last quarter. Dumont & Blake Investment Advisors LLC bought a new position in Transocean in the third quarter valued at $108,000. Capstone Investment Advisors Netherlands B.V. bought a new position in Transocean in the second quarter valued at $111,000. Advisor Partners LLC bought a new position in Transocean in the second quarter valued at $112,000. Finally, Dupont Capital Management Corp bought a new position in Transocean in the second quarter valued at $113,000. 70.60% of the stock is owned by institutional investors and hedge funds.
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Transocean Ltd. (RIG) opened at $10.35 on Monday. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. Transocean Ltd. has a 1-year low of $7.20 and a 1-year high of $16.66. The company has a market cap of $4,050.00, a PE ratio of 12.94 and a beta of 1.81.
Transocean (NYSE:RIG) last released its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million for the quarter, compared to analyst estimates of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. equities research analysts predict that Transocean Ltd. will post -0.32 earnings per share for the current year.
A number of research analysts recently weighed in on the stock. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Wednesday, August 2nd. BMO Capital Markets set a $7.00 target price on shares of Transocean and gave the company a “sell” rating in a research report on Wednesday, October 18th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Transocean from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.57 to $9.75 in a research report on Wednesday, August 9th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the stock. Transocean presently has a consensus rating of “Hold” and an average target price of $12.31.
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 on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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