Transocean Ltd. (NYSE:RIG - Get Free Report) Director (Cyprus) Ltd Perestroika purchased 4,000,000 shares of the business's stock in a transaction on Friday, September 26th. The stock was acquired at an average price of $3.05 per share, for a total transaction of $12,200,000.00. Following the completion of the purchase, the director owned 95,074,894 shares of the company's stock, valued at $289,978,426.70. This represents a 4.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Transocean Price Performance
Shares of NYSE RIG remained flat at $3.11 during mid-day trading on Tuesday. The company had a trading volume of 54,970,682 shares, compared to its average volume of 41,961,528. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The business's fifty day moving average is $3.10 and its 200 day moving average is $2.82. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -1.67, a price-to-earnings-growth ratio of 5.98 and a beta of 2.79. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $4.74.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on RIG. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Barclays lifted their target price on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $4.26.
Read Our Latest Stock Report on RIG
Hedge Funds Weigh In On Transocean
Several hedge funds have recently made changes to their positions in the business. Jump Financial LLC grew its holdings in Transocean by 156.2% during the first quarter. Jump Financial LLC now owns 1,489,600 shares of the offshore drilling services provider's stock worth $4,722,000 after purchasing an additional 908,219 shares during the period. SG Americas Securities LLC raised its holdings in shares of Transocean by 3,039.6% in the 1st quarter. SG Americas Securities LLC now owns 930,599 shares of the offshore drilling services provider's stock worth $2,950,000 after acquiring an additional 900,958 shares during the last quarter. Keybank National Association OH increased its stake in Transocean by 14.2% in the 1st quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider's stock valued at $42,733,000 after buying an additional 1,672,958 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Transocean by 594.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 221,615 shares of the offshore drilling services provider's stock worth $703,000 after purchasing an additional 189,708 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Transocean in the 1st quarter valued at approximately $688,000. 67.73% of the stock is owned by institutional investors.
About Transocean
(
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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.
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