Marshall Wace North America L.P. Takes $14.70 Million Position in Transocean LTD (RIG)

Marshall Wace North America L.P. bought a new position in Transocean LTD (NYSE:RIG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,053,388 shares of the offshore drilling services provider’s stock, valued at approximately $14,695,000. Marshall Wace North America L.P. owned about 0.23% of Transocean as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RIG. Primecap Management Co. CA increased its position in shares of Transocean by 129.0% in the 3rd quarter. Primecap Management Co. CA now owns 32,168,839 shares of the offshore drilling services provider’s stock worth $448,755,000 after purchasing an additional 18,121,494 shares during the last quarter. Platinum Investment Management Ltd. increased its position in shares of Transocean by 66.3% in the 3rd quarter. Platinum Investment Management Ltd. now owns 14,492,927 shares of the offshore drilling services provider’s stock worth $202,176,000 after purchasing an additional 5,778,427 shares during the last quarter. FMR LLC increased its position in shares of Transocean by 1,255.1% in the 2nd quarter. FMR LLC now owns 5,103,811 shares of the offshore drilling services provider’s stock worth $68,595,000 after purchasing an additional 4,727,168 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Transocean by 251.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 5,461,267 shares of the offshore drilling services provider’s stock worth $76,185,000 after purchasing an additional 3,905,530 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Transocean in the 3rd quarter worth about $47,291,000. 81.47% of the stock is owned by institutional investors.

Shares of NYSE:RIG opened at $8.30 on Friday. Transocean LTD has a fifty-two week low of $8.25 and a fifty-two week high of $14.47. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.07 and a quick ratio of 2.77.

Transocean (NYSE:RIG) last posted its earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.16. Transocean had a negative net margin of 64.33% and a negative return on equity of 2.31%. The firm had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $779.19 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Transocean’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Transocean LTD will post -0.72 EPS for the current fiscal year.

A number of brokerages recently weighed in on RIG. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Transocean in a research report on Tuesday, September 4th. Royal Bank of Canada raised shares of Transocean from a “sector perform” rating to an “outperform” rating in a research report on Thursday, September 20th. Morgan Stanley began coverage on shares of Transocean in a research report on Tuesday, September 18th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, UBS Group raised shares of Transocean from an “accumulate” rating to a “buy” rating in a research report on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.79.

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About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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