Syquant Capital Sas acquired a new stake in shares of Transocean LTD (NYSE:RIG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 250,000 shares of the offshore drilling services provider’s stock, valued at approximately $2,178,000. Transocean comprises 0.8% of Syquant Capital Sas’ holdings, making the stock its 15th biggest holding.
Other institutional investors have also bought and sold shares of the company. We Are One Seven LLC acquired a new stake in shares of Transocean in the fourth quarter worth $31,000. NuWave Investment Management LLC increased its position in Transocean by 2,193.1% during the fourth quarter. NuWave Investment Management LLC now owns 8,324 shares of the offshore drilling services provider’s stock worth $57,000 after acquiring an additional 7,961 shares during the period. National Asset Management Inc. bought a new position in Transocean during the fourth quarter worth $71,000. Magnus Financial Group LLC bought a new position in Transocean during the fourth quarter worth $71,000. Finally, Sigma Planning Corp bought a new position in Transocean during the fourth quarter worth $72,000. 76.05% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on RIG shares. Zacks Investment Research lowered shares of Transocean from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th. Barclays reaffirmed an “underweight” rating on shares of Transocean in a report on Thursday, February 21st. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Finally, Goldman Sachs Group started coverage on shares of Transocean in a research report on Sunday, March 10th. They set a “buy” rating and a $11.00 price target on the stock. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.86.
RIG opened at $7.76 on Friday. Transocean LTD has a fifty-two week low of $6.19 and a fifty-two week high of $14.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.72 and a quick ratio of 2.38. The firm has a market cap of $4.74 billion, a PE ratio of -9.82 and a beta of 1.77.
Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.01). The firm had revenue of $754.00 million for the quarter, compared to the consensus estimate of $745.43 million. Transocean had a negative return on equity of 2.70% and a negative net margin of 62.97%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.48) earnings per share. On average, sell-side analysts predict that Transocean LTD will post -0.82 EPS for the current year.
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Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.
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