133,401 Shares in Transocean Ltd. $RIG Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC purchased a new position in Transocean Ltd. (NYSE:RIG) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 133,401 shares of the offshore drilling services provider’s stock, valued at approximately $884,000.

A number of other hedge funds have also recently added to or reduced their stakes in RIG. Vanguard Group Inc. raised its position in shares of Transocean by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock worth $400,636,000 after purchasing an additional 2,487,015 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Transocean by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider’s stock worth $179,531,000 after purchasing an additional 7,516,589 shares in the last quarter. Dalal Street LLC grew its position in Transocean by 10.6% in the 4th quarter. Dalal Street LLC now owns 27,040,133 shares of the offshore drilling services provider’s stock valued at $111,676,000 after purchasing an additional 2,597,801 shares during the period. Morgan Stanley grew its position in Transocean by 9.4% in the 4th quarter. Morgan Stanley now owns 24,790,325 shares of the offshore drilling services provider’s stock valued at $102,384,000 after purchasing an additional 2,135,964 shares during the period. Finally, State Street Corp increased its stake in Transocean by 13.1% during the 4th quarter. State Street Corp now owns 24,725,897 shares of the offshore drilling services provider’s stock valued at $102,118,000 after purchasing an additional 2,856,372 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RIG. Susquehanna raised their price objective on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. TD Cowen boosted their target price on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Clarkson Capital cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $6.00 to $8.00 in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.96.

Transocean Trading Down 0.1%

NYSE RIG opened at $5.05 on Friday. The firm has a market capitalization of $5.64 billion, a P/E ratio of -1.70 and a beta of 1.30. The business has a fifty day simple moving average of $6.11 and a 200 day simple moving average of $5.72. Transocean Ltd. has a 12 month low of $2.53 and a 12 month high of $7.66. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.Transocean’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) earnings per share. On average, analysts predict that Transocean Ltd. will post 0.16 EPS for the current fiscal year.

About Transocean

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.