Transocean Ltd. (NYSE:RIG) Shares Bought by Qube Research & Technologies Ltd

Qube Research & Technologies Ltd boosted its position in shares of Transocean Ltd. (NYSE:RIG) by 312.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 566,616 shares of the offshore drilling services provider’s stock after acquiring an additional 429,218 shares during the quarter. Qube Research & Technologies Ltd owned about 0.09% of Transocean worth $2,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp lifted its position in Transocean by 145.0% during the 2nd quarter. Van ECK Associates Corp now owns 33,186,410 shares of the offshore drilling services provider’s stock worth $150,003,000 after acquiring an additional 19,639,323 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Transocean by 155.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,955,148 shares of the offshore drilling services provider’s stock valued at $67,601,000 after buying an additional 9,107,350 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Transocean by 10.1% during the 1st quarter. Geode Capital Management LLC now owns 9,330,158 shares of the offshore drilling services provider’s stock valued at $33,122,000 after buying an additional 853,977 shares during the last quarter. Northern Trust Corp raised its stake in shares of Transocean by 11.8% during the 1st quarter. Northern Trust Corp now owns 7,889,590 shares of the offshore drilling services provider’s stock valued at $28,007,000 after buying an additional 831,842 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Transocean by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,167,983 shares of the offshore drilling services provider’s stock valued at $11,246,000 after buying an additional 132,430 shares during the last quarter. 51.45% of the stock is owned by institutional investors.

Separately, Morgan Stanley lifted their price objective on Transocean from $3.50 to $4.00 and gave the stock an “equal weight” rating in a report on Friday, July 9th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.00.

Shares of Transocean stock opened at $3.92 on Thursday. Transocean Ltd. has a 1-year low of $0.65 and a 1-year high of $5.13. The stock has a market cap of $2.55 billion, a P/E ratio of 32.67 and a beta of 3.65. The stock’s 50 day simple moving average is $3.54 and its 200-day simple moving average is $3.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.98 and a quick ratio of 1.66.

Transocean (NYSE:RIG) last released its quarterly earnings data on Monday, August 2nd. The offshore drilling services provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.03). Transocean had a net margin of 4.33% and a negative return on equity of 4.43%. The business had revenue of $713.00 million during the quarter, compared to analyst estimates of $683.33 million. The company’s revenue was down 27.5% compared to the same quarter last year. As a group, research analysts expect that Transocean Ltd. will post -0.66 EPS for the current fiscal year.

Transocean Profile

Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleet such as ultra-deepwater, harsh-environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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