Interval Partners LP Acquires Shares of 127,240 Transocean Ltd. (NYSE:RIG)

Interval Partners LP acquired a new stake in Transocean Ltd. (NYSE:RIG - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 127,240 shares of the offshore drilling services provider's stock, valued at approximately $477,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Twin Tree Management LP acquired a new position in shares of Transocean in the fourth quarter valued at about $27,000. Optiver Holding B.V. grew its stake in shares of Transocean by 53.6% in the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after acquiring an additional 2,933 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after acquiring an additional 4,826 shares in the last quarter. Adero Partners LLC acquired a new position in shares of Transocean in the fourth quarter valued at about $38,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Transocean in the fourth quarter valued at about $40,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RIG. Morgan Stanley decreased their price target on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday. SEB Equity Research set a $2.80 price target on shares of Transocean in a research note on Wednesday, March 5th. Susquehanna decreased their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. BTIG Research set a $5.00 price objective on shares of Transocean and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Barclays cut their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $4.58.

Transocean Price Performance

RIG traded down $0.05 on Friday, hitting $2.62. 35,194,978 shares of the stock were exchanged, compared to its average volume of 25,925,294. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -3.58, a PEG ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $6.38. The business has a 50-day moving average of $2.61 and a two-hundred day moving average of $3.41.

Transocean (NYSE:RIG - Get Free Report) last posted its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The firm had revenue of $906.00 million during the quarter, compared to analysts' expectations of $884.92 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Sell-side analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the transaction, the executive vice president now owns 340,841 shares of the company's stock, valued at approximately $947,537.98. This represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.27% of the company's stock.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.