Dauntless Investment Group LLC Buys Shares of 125,750 Transocean Ltd. (NYSE:RIG)

Dauntless Investment Group LLC purchased a new stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 125,750 shares of the offshore drilling services provider's stock, valued at approximately $472,000. Transocean accounts for about 0.5% of Dauntless Investment Group LLC's portfolio, making the stock its 24th biggest position.

A number of other large investors also recently added to or reduced their stakes in the business. Twin Tree Management LP bought a new position in shares of Transocean during the fourth quarter worth $27,000. Blue Trust Inc. raised its stake in Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider's stock valued at $37,000 after purchasing an additional 4,826 shares in the last quarter. Adero Partners LLC bought a new position in Transocean during the fourth quarter valued at $38,000. Stratos Wealth Partners LTD. bought a new stake in shares of Transocean in the 4th quarter worth about $40,000. Finally, R Squared Ltd purchased a new stake in shares of Transocean during the 4th quarter valued at about $41,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RIG has been the topic of a number of recent research reports. Barclays dropped 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. SEB Equity Research set a $2.80 price objective on shares of Transocean in a report on Wednesday, March 5th. TD Cowen lowered their target price on Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a report on Wednesday, January 8th. Evercore ISI downgraded Transocean from an "outperform" rating to an "in-line" rating and cut their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Finally, Susquehanna dropped their price objective on Transocean from $5.00 to $4.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $4.59.

Transocean Stock Performance

Shares of RIG traded down $0.08 during trading hours on Tuesday, reaching $2.24. 30,046,245 shares of the company traded hands, compared to its average volume of 24,543,404. The stock has a market capitalization of $1.97 billion, a P/E ratio of -3.08, a P/E/G ratio of 0.86 and a beta of 2.29. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average price of $2.76 and a 200-day moving average price of $3.58. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $6.38.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $884.92 million. During the same quarter in the prior year, the company earned ($0.03) EPS. Transocean's quarterly revenue was up 18.7% on a year-over-year basis. Equities analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $2.23, for a total value of $49,060.00. Following the sale, the executive vice president now directly owns 362,841 shares of the company's stock, valued at approximately $809,135.43. This trade represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.16% of the stock is currently 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.