R Squared Ltd Boosts Stock Position in Transocean Ltd. $RIG

R Squared Ltd raised its stake in Transocean Ltd. (NYSE:RIG) by 25.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,990 shares of the offshore drilling services provider’s stock after purchasing an additional 5,210 shares during the period. R Squared Ltd’s holdings in Transocean were worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RIG. Goldman Sachs Group Inc. grew its stake in Transocean by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. Nuveen LLC purchased a new position in Transocean in the first quarter valued at about $7,774,000. American Century Companies Inc. grew its stake in Transocean by 10.9% in the first quarter. American Century Companies Inc. now owns 21,348,095 shares of the offshore drilling services provider’s stock valued at $67,673,000 after purchasing an additional 2,090,658 shares during the last quarter. Keybank National Association OH boosted its holdings in Transocean by 14.2% in the first quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider’s stock worth $42,733,000 after acquiring an additional 1,672,958 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Transocean by 114.0% in the first quarter. Cubist Systematic Strategies LLC now owns 2,424,925 shares of the offshore drilling services provider’s stock worth $7,687,000 after acquiring an additional 1,291,565 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Transocean

In related news, Director (Cyprus) Ltd Perestroika purchased 4,000,000 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was bought at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the acquisition, the director owned 95,074,894 shares of the company’s stock, valued at $289,978,426.70. The trade was a 4.39% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frederik Wilhelm Mohn purchased 4,000,000 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was bought at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the acquisition, the director directly owned 95,074,894 shares of the company’s stock, valued at $289,978,426.70. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders own 12.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RIG. Wall Street Zen raised Transocean from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a report on Saturday. Finally, Barclays raised their price target on Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus target price of $4.26.

Transocean Trading Up 0.2%

Transocean stock opened at $3.90 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $4.74. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -2.09 and a beta of 2.68. The stock has a 50-day moving average price of $3.24 and a 200 day moving average price of $2.87.

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.