128,586 Shares of Transocean Ltd. $RIG Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. purchased a new stake in Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 128,586 shares of the offshore drilling services provider’s stock, valued at approximately $674,000.

Other institutional investors have also recently bought and sold shares of the company. Merrion Investment Management Co LLC acquired a new stake in shares of Transocean during the third quarter worth approximately $853,000. State of Alaska Department of Revenue bought a new position in Transocean during the third quarter valued at about $190,000. Essex LLC acquired a new stake in Transocean in the 3rd quarter worth approximately $537,000. Forvis Mazars Wealth Advisors LLC bought a new stake in shares of Transocean during the 3rd quarter worth $7,874,000. Finally, Sax Wealth Advisors LLC acquired a new stake in shares of Transocean in the third quarter valued at about $90,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Trading Up 0.6%

NYSE RIG opened at $6.08 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.27 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $6.79 billion, a PE ratio of -3.23, a P/E/G ratio of 4.47 and a beta of 1.41. The stock has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $5.80. Transocean Ltd. has a 12 month low of $3.49 and a 12 month high of $7.66.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $966.00 million for the quarter, compared to analysts’ expectations of $956.64 million. Transocean had a positive return on equity of 2.60% and a negative net margin of 40.24%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.06) EPS. Research analysts forecast that Transocean Ltd. will post 0.18 EPS for the current year.

Wall Street Analyst Weigh In

RIG has been the subject of a number of research reports. Barclays reduced their price target on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research note on Thursday, October 15th. Fearnley Fonds upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Zacks Research upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Susquehanna decreased their price objective on Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.68.

About Transocean

Transocean Ltd. is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company specializes in ultra-deepwater and harsh-environment drilling, helping customers explore for and develop offshore energy resources.

Transocean owns and operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs. Its services generally include contract drilling, rig operations, well-construction support, and related offshore drilling management.

With roots tracing back to the 1920s, Transocean serves customers in major offshore energy regions around the world.