Alps Advisors Inc. acquired a new position in Transocean Ltd. (NYSE:RIG – Get Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 57,475 shares of the offshore drilling services provider’s stock, valued at approximately $191,000.
Several other hedge funds have also bought and sold shares of RIG. Kestra Advisory Services LLC purchased a new stake in Transocean in the 1st quarter worth approximately $54,000. Commonwealth Equity Services LLC boosted its position in Transocean by 62.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 197,000 shares of the offshore drilling services provider’s stock worth $900,000 after purchasing an additional 75,835 shares in the last quarter. Prospera Financial Services Inc boosted its position in Transocean by 17.4% in the 1st quarter. Prospera Financial Services Inc now owns 20,274 shares of the offshore drilling services provider’s stock worth $93,000 after purchasing an additional 3,000 shares in the last quarter. KBC Group NV lifted its position in shares of Transocean by 15.6% during the 1st quarter. KBC Group NV now owns 45,727 shares of the offshore drilling services provider’s stock valued at $209,000 after buying an additional 6,156 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Transocean during the 1st quarter valued at approximately $77,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on RIG. Susquehanna Bancshares decreased their target price on Transocean from $4.20 to $3.30 and set a “neutral” rating on the stock in a research report on Monday, October 17th. Barclays increased their target price on Transocean from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Tuesday, November 8th. Capital One Financial upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a research report on Tuesday, August 2nd. StockNews.com upgraded Transocean from a “sell” rating to a “hold” rating in a research report on Friday, November 4th. Finally, Pareto Securities upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, August 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.52.
Transocean Stock Down 0.5 %
Transocean (NYSE:RIG – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The offshore drilling services provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. Transocean had a negative return on equity of 3.74% and a negative net margin of 20.50%. The firm had revenue of $691.00 million during the quarter, compared to the consensus estimate of $665.24 million. During the same period in the prior year, the company earned ($0.19) EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts forecast that Transocean Ltd. will post -0.58 EPS for the current fiscal year.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters.
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