Farringdon Capital Ltd. Acquires Shares of 37,551 Transocean Ltd. (NYSE:RIG)

Farringdon Capital Ltd. purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) during the 4th quarter, Holdings Channel reports. The fund purchased 37,551 shares of the offshore drilling services provider’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RIG. Jump Financial LLC grew its holdings in Transocean by 75.7% during the 4th quarter. Jump Financial LLC now owns 581,381 shares of the offshore drilling services provider’s stock valued at $2,180,000 after purchasing an additional 250,571 shares during the last quarter. Guggenheim Capital LLC lifted its stake in shares of Transocean by 30.3% during the 4th quarter. Guggenheim Capital LLC now owns 158,405 shares of the offshore drilling services provider’s stock worth $594,000 after acquiring an additional 36,874 shares during the last quarter. Rossby Financial LCC bought a new position in Transocean in the 4th quarter valued at $131,000. Mariner LLC lifted its position in shares of Transocean by 46.2% during the fourth quarter. Mariner LLC now owns 140,817 shares of the offshore drilling services provider’s stock worth $528,000 after purchasing an additional 44,527 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new stake in shares of Transocean during the fourth quarter valued at $43,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Performance

Shares of RIG stock opened at $2.28 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.01 billion, a PE ratio of -3.12, a PEG ratio of 0.86 and a beta of 2.29. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.38. The business’s fifty day simple moving average is $2.92 and its 200-day simple moving average is $3.67.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business had revenue of $952.00 million during the quarter, compared to analysts’ expectations of $962.28 million. Analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. SEB Equity Research set a $2.80 price objective on shares of Transocean in a research report on Wednesday, March 5th. Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Barclays lowered their target price on Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a report on Monday, April 7th. Citigroup lowered their price objective on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Finally, Morgan Stanley lowered their price target on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.59.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $2.23, for a total transaction of $49,060.00. Following the sale, the executive vice president now directly owns 362,841 shares of the company’s stock, valued at $809,135.43. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.16% of the stock is owned by insiders.

Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.