Cubist Systematic Strategies LLC Buys New Stake in Transocean Ltd. (NYSE:RIG)

Cubist Systematic Strategies LLC acquired a new stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,133,360 shares of the offshore drilling services provider's stock, valued at approximately $4,250,000. Cubist Systematic Strategies LLC owned 0.13% of Transocean as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC raised its holdings in shares of Transocean by 60.1% in the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider's stock worth $6,902,000 after purchasing an additional 609,681 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Transocean by 28.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 42,803 shares of the offshore drilling services provider's stock worth $161,000 after purchasing an additional 9,361 shares during the period. Pallas Capital Advisors LLC raised its holdings in shares of Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider's stock worth $57,000 after purchasing an additional 3,127 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Transocean during the 4th quarter valued at $150,000. Finally, 180 Wealth Advisors LLC boosted its position in Transocean by 32.6% during the 4th quarter. 180 Wealth Advisors LLC now owns 116,736 shares of the offshore drilling services provider's stock worth $438,000 after purchasing an additional 28,715 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. BTIG Research set a $5.00 price objective on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. SEB Equity Research set a $2.80 target price on Transocean in a report on Wednesday, March 5th. Barclays reduced their price target on Transocean from $4.00 to $3.50 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Susquehanna lowered their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Evercore ISI lowered shares of Transocean from an "outperform" rating to an "in-line" rating and decreased their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.63.

Transocean Price Performance

Shares of NYSE:RIG traded down $0.13 during trading on Thursday, reaching $2.66. The company had a trading volume of 21,774,080 shares, compared to its average volume of 25,643,803. The firm's fifty day moving average is $2.62 and its 200 day moving average is $3.44. The firm has a market capitalization of $2.35 billion, a PE ratio of -3.64, a price-to-earnings-growth ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47.

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

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president now owns 340,841 shares in the company, valued at approximately $947,537.98. This represents a 6.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.27% of the stock is owned by insiders.

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.