Sheaff Brock Investment Advisors LLC Takes Position in Transocean Ltd. (NYSE:RIG)

Sheaff Brock Investment Advisors LLC bought a new stake in shares of Transocean Ltd. (NYSE:RIGGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,800 shares of the offshore drilling services provider’s stock, valued at approximately $77,000.

Several other hedge funds have also recently made changes to their positions in the business. Rafferty Asset Management LLC increased its stake in shares of Transocean by 11.7% during the fourth quarter. Rafferty Asset Management LLC now owns 28,024 shares of the offshore drilling services provider’s stock valued at $77,000 after buying an additional 2,940 shares during the period. Nwam LLC grew its stake in Transocean by 14.9% in the fourth quarter. Nwam LLC now owns 23,047 shares of the offshore drilling services provider’s stock worth $64,000 after purchasing an additional 2,983 shares during the period. Tradewinds Capital Management LLC grew its stake in Transocean by 25.2% in the fourth quarter. Tradewinds Capital Management LLC now owns 14,905 shares of the offshore drilling services provider’s stock worth $41,000 after purchasing an additional 3,000 shares during the period. Prospera Financial Services Inc grew its stake in Transocean by 17.4% in the first quarter. Prospera Financial Services Inc now owns 20,274 shares of the offshore drilling services provider’s stock worth $93,000 after purchasing an additional 3,000 shares during the period. Finally, KBC Group NV grew its stake in Transocean by 15.6% in the first quarter. KBC Group NV now owns 45,727 shares of the offshore drilling services provider’s stock worth $209,000 after purchasing an additional 6,156 shares during the period. 47.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RIG. StockNews.com raised Transocean from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Sandler upped their price target on Transocean from $3.00 to $3.85 and gave the stock a “neutral” rating in a research note on Monday, April 18th. Finally, Capital One Financial raised Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target on the stock in a research note on Tuesday.

Insider Activity

In other Transocean news, Director Frederik Wilhelm Mohn purchased 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $3.75 per share, with a total value of $7,500,000.00. Following the purchase, the director now owns 82,636,646 shares of the company’s stock, valued at $309,887,422.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Transocean news, Director Frederik Wilhelm Mohn purchased 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $3.75 per share, with a total value of $7,500,000.00. Following the purchase, the director now owns 82,636,646 shares of the company’s stock, valued at $309,887,422.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vanessa C. L. Chang purchased 12,300 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The shares were acquired at an average cost of $3.21 per share, with a total value of $39,483.00. Following the completion of the purchase, the director now directly owns 49,200 shares in the company, valued at approximately $157,932. The disclosure for this purchase can be found here. Insiders purchased 2,017,300 shares of company stock valued at $7,557,533 in the last ninety days. Insiders own 12.29% of the company’s stock.

Transocean Stock Performance

NYSE:RIG opened at $3.44 on Friday. The stock has a market capitalization of $2.34 billion, a P/E ratio of -3.58 and a beta of 2.80. The stock has a 50-day moving average price of $3.46 and a 200 day moving average price of $3.81. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.57. Transocean Ltd. has a 12-month low of $2.32 and a 12-month high of $5.56.

Transocean (NYSE:RIGGet Rating) last posted its quarterly earnings data on Monday, August 1st. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $692.00 million during the quarter, compared to analyst estimates of $690.97 million. Transocean had a negative return on equity of 4.46% and a negative net margin of 25.07%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned ($0.18) EPS. Equities research analysts forecast that Transocean Ltd. will post -0.52 EPS for the current fiscal year.

Transocean Company Profile

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Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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