CenterBook Partners LP Invests $2.89 Million in Transocean Ltd. $RIG

CenterBook Partners LP purchased a new position in shares of Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 699,993 shares of the offshore drilling services provider’s stock, valued at approximately $2,891,000. CenterBook Partners LP owned about 0.06% of Transocean at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RIG. Integrated Wealth Concepts LLC boosted its stake in shares of Transocean by 12.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock worth $221,000 after acquiring an additional 7,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 worth $1,376,000 after acquiring an additional 18,957 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 during the last quarter. Cetera Investment Advisers boosted its stake in shares of Transocean by 5.7% during the 2nd quarter. Cetera Investment Advisers now owns 233,984 shares of the offshore drilling services provider’s stock worth $606,000 after acquiring an additional 12,532 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Transocean by 29.2% during the 2nd quarter. Invesco Ltd. now owns 1,032,774 shares of the offshore drilling services provider’s stock worth $2,675,000 after acquiring an additional 233,458 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

RIG has been the topic of several analyst reports. Clarkson Capital cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 19th. BTIG Research lifted their price target on shares of Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. TD Cowen lifted their target price on shares of Transocean from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Fearnley Fonds downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $6.00 to $8.00 in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.96.

Transocean Trading Up 3.4%

Shares of RIG stock opened at $6.16 on Tuesday. Transocean Ltd. has a 52-week low of $2.51 and a 52-week high of $7.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The firm has a market capitalization of $6.87 billion, a PE ratio of -2.07 and a beta of 1.29. The stock has a fifty day simple moving average of $6.50 and a two-hundred day simple moving average of $5.58.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company posted ($0.10) EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts predict that Transocean Ltd. will post 0.17 EPS for the current fiscal 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.