Mitsubishi UFJ Trust & Banking Corp Acquires New Position in Transocean Ltd. $RIG

Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the 3rd quarter, Holdings Channel reports. The firm bought 547,367 shares of the offshore drilling services provider’s stock, valued at approximately $1,708,000.

Several other institutional investors have also recently modified their holdings of RIG. Integrated Wealth Concepts LLC lifted its stake in shares of Transocean by 12.1% during the first quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock valued at $221,000 after buying an additional 7,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Transocean by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock valued at $1,376,000 after purchasing an additional 18,957 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Transocean by 88.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after acquiring an additional 5,719,637 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Transocean by 287.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 45,845 shares of the offshore drilling services provider’s stock worth $127,000 after purchasing an additional 34,008 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Transocean by 70.8% in the 2nd quarter. Signaturefd LLC now owns 35,135 shares of the offshore drilling services provider’s stock valued at $91,000 after acquiring an additional 14,566 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RIG. Citigroup increased their price target on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th. Morgan Stanley set a $4.50 price target on Transocean in a research report on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Thursday, January 22nd. Finally, Barclays lifted their price objective on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.38.

Insider Activity

In other news, EVP Roderick James Mackenzie sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $4.48, for a total value of $156,800.00. Following the transaction, the executive vice president owned 212,072 shares of the company’s stock, valued at approximately $950,082.56. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Perestroika acquired 1,500,000 shares of the business’s stock in a transaction on Monday, November 24th. The stock was acquired at an average cost of $4.02 per share, with a total value of $6,030,000.00. Following the acquisition, the director directly owned 96,574,894 shares in the company, valued at approximately $388,231,073.88. This trade represents a 1.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 712,970 shares of company stock worth $3,152,132. Corporate insiders own 12.27% of the company’s stock.

Transocean Price Performance

Transocean stock opened at $4.98 on Friday. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $5.17. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of -1.52 and a beta of 1.36. The business’s 50-day simple moving average is $4.31 and its 200 day simple moving average is $3.65.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.45%. The company had revenue of ($1,894.00) million for the quarter, compared to analysts’ expectations of $1.01 billion. Transocean’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current year.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.