Quantinno Capital Management LP Has $982,000 Stock Position in Transocean Ltd. $RIG

Quantinno Capital Management LP lifted its stake in shares of Transocean Ltd. (NYSE:RIG) by 206.9% during the first quarter, HoldingsChannel reports. The firm owned 148,140 shares of the offshore drilling services provider’s stock after acquiring an additional 99,869 shares during the quarter. Quantinno Capital Management LP’s holdings in Transocean were worth $982,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. TD Waterhouse Canada Inc. grew its stake in shares of Transocean by 22,432.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after buying an additional 6,281 shares in the last quarter. Josh Arnold Investment Consultant LLC bought a new stake in Transocean during the second quarter worth $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Transocean in the third quarter valued at $31,000. Larson Financial Group LLC grew its position in shares of Transocean by 203.8% in the 3rd quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider’s stock valued at $34,000 after acquiring an additional 7,399 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in shares of Transocean in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Chad C. Deaton purchased 35,000 shares of the stock in a transaction on Thursday, July 2nd. The shares were purchased at an average cost of $4.95 per share, with a total value of $173,250.00. Following the acquisition, the director directly owned 237,421 shares in the company, valued at $1,175,233.95. The trade was a 17.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 9.70% of the stock is currently owned by corporate insiders.

Transocean Price Performance

NYSE:RIG opened at $5.76 on Monday. The company has a market cap of $6.44 billion, a P/E ratio of -3.07, a P/E/G ratio of 3.71 and a beta of 1.32. The firm’s fifty day moving average price is $5.34 and its two-hundred day moving average price is $5.95. Transocean Ltd. has a one year low of $2.76 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.59 and a quick ratio of 1.27.

Transocean (NYSE:RIG) last posted its earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $956.64 million. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. Transocean’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.06) EPS. Equities analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RIG. TD Cowen upped their target price on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Barclays reduced their price target on Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday. Susquehanna lowered their price target on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Friday, July 17th. Finally, Fearnley Fonds raised Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.68.

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.