Glenorchy Capital Ltd Purchases 148,755 Shares of Transocean Ltd. (NYSE:RIG)

Glenorchy Capital Ltd raised its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 34.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 586,219 shares of the offshore drilling services provider's stock after acquiring an additional 148,755 shares during the period. Transocean makes up 0.8% of Glenorchy Capital Ltd's portfolio, making the stock its 19th biggest position. Glenorchy Capital Ltd owned approximately 0.07% of Transocean worth $2,491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RIG. Northwestern Mutual Wealth Management Co. grew its position in Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider's stock valued at $25,000 after purchasing an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Transocean during the second quarter valued at approximately $30,000. Fiducient Advisors LLC purchased a new position in Transocean in the 1st quarter worth approximately $63,000. SG Americas Securities LLC bought a new position in Transocean in the 2nd quarter valued at approximately $64,000. Finally, Fermata Advisors LLC purchased a new stake in Transocean during the 1st quarter valued at $75,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Perestroika purchased 1,500,000 shares of the business's stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the acquisition, the director now directly owns 91,074,894 shares of the company's stock, valued at $376,139,312.22. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the transaction, the director now owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Perestroika acquired 1,500,000 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the transaction, the director now owns 91,074,894 shares of the company's stock, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RIG shares. DNB Markets upgraded Transocean from a "hold" rating to a "buy" rating in a research note on Tuesday, September 3rd. Citigroup lowered shares of Transocean from a "buy" rating to a "neutral" rating in a research note on Thursday, September 12th. Benchmark downgraded Transocean from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Morgan Stanley upped their price objective on Transocean from $5.00 to $6.00 and gave the company an "equal weight" rating in a research report on Thursday, October 3rd. Finally, Susquehanna dropped their target price on Transocean from $8.00 to $7.00 and set a "positive" rating on the stock in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.88.

Transocean Price Performance

RIG traded down $0.02 during trading on Friday, reaching $4.24. 12,390,574 shares of the company traded hands, compared to its average volume of 18,355,061. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $7.56. The firm has a fifty day simple moving average of $4.53 and a 200 day simple moving average of $5.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. The company has a market cap of $3.99 billion, a P/E ratio of -8.15 and a beta of 2.79.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The company had revenue of $861.00 million during the quarter, compared to analysts' expectations of $862.25 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities analysts forecast that Transocean Ltd. will post -0.18 EPS for the current year.

Transocean Company 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.