Dalal Street LLC Increases Position in Transocean Ltd. $RIG

Dalal Street LLC lifted its holdings in Transocean Ltd. (NYSE:RIG) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,040,133 shares of the offshore drilling services provider’s stock after purchasing an additional 2,597,801 shares during the quarter. Transocean accounts for approximately 27.8% of Dalal Street LLC’s investment portfolio, making the stock its 2nd biggest holding. Dalal Street LLC owned 2.45% of Transocean worth $111,676,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RIG. TD Waterhouse Canada Inc. lifted its position in shares of Transocean by 22,432.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after purchasing an additional 6,281 shares in the last quarter. Josh Arnold Investment Consultant LLC bought a new stake in Transocean during the second quarter worth $26,000. Flagship Harbor Advisors LLC bought a new stake in Transocean during the fourth quarter worth $27,000. Vestmark Advisory Solutions Inc. bought a new stake in Transocean during the third quarter worth $31,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in Transocean during the third quarter worth $31,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RIG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Morgan Stanley upped their price target on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. TD Cowen upped their price target on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Finally, Susquehanna upped their price target on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Three equities 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.96.

Transocean Trading Up 0.2%

RIG stock opened at $6.05 on Friday. Transocean Ltd. has a 52 week low of $2.51 and a 52 week high of $7.66. The company has a market capitalization of $6.75 billion, a PE ratio of -2.03 and a beta of 1.28. The company’s 50-day simple moving average is $6.44 and its 200 day simple moving average is $5.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54.

Transocean (NYSE:RIG) last released its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted ($0.10) earnings per share. Transocean’s revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Transocean Ltd. will post 0.17 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.