Counterpoint Mutual Funds LLC Takes Position in Transocean Ltd. $RIG

Counterpoint Mutual Funds LLC acquired a new position in shares of Transocean Ltd. (NYSE:RIG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 133,401 shares of the offshore drilling services provider’s stock, valued at approximately $884,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RIG. Integrated Wealth Concepts LLC increased its position in 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 valued at $221,000 after purchasing an additional 7,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Transocean by 4.6% in 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 purchasing an additional 18,957 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Transocean by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after purchasing an additional 5,719,637 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Transocean by 5.7% in the 2nd quarter. Cetera Investment Advisers now owns 233,984 shares of the offshore drilling services provider’s stock valued at $606,000 after purchasing an additional 12,532 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Transocean by 29.2% during the second quarter. Invesco Ltd. now owns 1,032,774 shares of the offshore drilling services provider’s stock worth $2,675,000 after buying an additional 233,458 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIG has been the subject of a number of analyst reports. Susquehanna lifted their target price on shares of Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a research note on Tuesday, April 7th. Clarkson Capital cut shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. 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 report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Finally, Morgan Stanley boosted their price objective on Transocean from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Three equities research 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, Transocean has a consensus rating of “Hold” and an average price target of $6.96.

Transocean Stock Performance

Shares of RIG stock opened at $5.05 on Friday. The firm has a 50 day moving average of $6.11 and a 200-day moving average of $5.72. The company has a market cap of $5.64 billion, a price-to-earnings ratio of -1.70 and a beta of 1.30. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60. Transocean Ltd. has a 52 week low of $2.53 and a 52 week high of $7.66.

Transocean (NYSE:RIG) last released its 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). The company 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 revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) EPS. On average, equities analysts forecast that Transocean Ltd. will post 0.16 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.