289,877 Shares in Transocean Ltd. $RIG Bought by Marnell Management LLC

Marnell Management LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 289,877 shares of the offshore drilling services provider’s stock, valued at approximately $1,197,000.

Other hedge funds have also bought and sold shares of the company. Monashee Investment Management LLC bought a new position in Transocean during the third quarter worth $936,000. Citigroup Inc. raised its stake in Transocean by 37.5% during the third quarter. Citigroup Inc. now owns 818,781 shares of the offshore drilling services provider’s stock worth $2,555,000 after buying an additional 223,231 shares during the last quarter. HighTower Advisors LLC raised its stake in Transocean by 2,662.3% during the third quarter. HighTower Advisors LLC now owns 1,562,314 shares of the offshore drilling services provider’s stock worth $4,874,000 after buying an additional 1,505,755 shares during the last quarter. Ninepoint Partners LP bought a new position in Transocean during the third quarter worth $18,720,000. Finally, Mirabella Financial Services LLP bought a new position in Transocean during the third quarter worth $2,609,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RIG. Susquehanna raised their price target on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. TD Cowen raised their price target on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley raised their price target on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.96.

Transocean Trading Up 0.1%

NYSE:RIG opened at $6.05 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of -2.03 and a beta of 1.29. The firm has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $5.63. Transocean Ltd. has a 12 month low of $2.51 and a 12 month high of $7.66.

Transocean (NYSE:RIG) last issued its quarterly earnings data 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). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Analysts expect 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.