Clough Capital Partners L P Purchases 619,566 Shares of Transocean Ltd. $RIG

Key Points

• Clough Capital Partners increased its Transocean stake by 15.7% in the fourth quarter, buying 619,566 shares and bringing its total holding to 4,577,619 shares valued at about $18.9 million.
• Institutional ownership remains heavy, with several large firms also adding shares; overall, institutions own about 67.73% of Transocean stock.
• Wall Street sentiment is mixed: analysts currently rate Transocean a consensus “Hold,” with an average target price of $6.96, even as some firms raised price targets or upgraded the stock.

Clough Capital Partners L P raised its position in Transocean Ltd. (NYSE:RIG - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,577,619 shares of the offshore drilling services provider's stock after purchasing an additional 619,566 shares during the period. Transocean accounts for 1.7% of Clough Capital Partners L P's investment portfolio, making the stock its 21st biggest position. Clough Capital Partners L P owned about 0.42% of Transocean worth $18,906,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Transocean by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider's stock valued at $400,636,000 after purchasing an additional 2,487,015 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Transocean by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 43,470,312 shares of the offshore drilling services provider's stock valued at $179,531,000 after purchasing an additional 7,516,589 shares during the period. Dalal Street LLC boosted its holdings in Transocean by 10.6% in the 4th quarter. Dalal Street LLC now owns 27,040,133 shares of the offshore drilling services provider's stock valued at $111,676,000 after purchasing an additional 2,597,801 shares during the period. American Century Companies Inc. boosted its holdings in Transocean by 12.8% in the 3rd quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider's stock valued at $82,544,000 after purchasing an additional 3,006,786 shares during the period. Finally, Morgan Stanley boosted its holdings in Transocean by 9.4% in the 4th quarter. Morgan Stanley now owns 24,790,325 shares of the offshore drilling services provider's stock valued at $102,384,000 after purchasing an additional 2,135,964 shares during the period. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on RIG shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Transocean in a report on Tuesday, April 21st. Susquehanna lifted their price objective on shares of Transocean from $7.50 to $8.00 and gave the stock a "positive" rating in a report on Tuesday, April 7th. Barclays raised shares of Transocean from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Clarkson Capital downgraded shares of Transocean from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 19th. Finally, TD Cowen lifted their price objective on shares of Transocean from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.96.

Trending Headlines about Transocean

Here are the key news stories impacting Transocean this week:

• Positive Sentiment: Transocean won new contracts for two harsh-environment semisubmersibles, adding about $185 million in firm backlog and boosting longer-term revenue visibility. Transocean Ltd. Announces Contract Awards Totaling $185 Million
• Positive Sentiment: S&P Global Ratings upgraded Transocean from CCC+ to B-, citing improved leverage and liquidity after debt reduction and new contract wins, which can support investor confidence. Transocean (RIG): One of the Best Stocks Under $10 to Invest In
• Positive Sentiment: Barclays and other market watchers pointed to Petrobras contract extensions and backlog growth as signs of a healthier operating outlook for Transocean. Barclays and BofA Reassess Transocean (RIG) Following Petrobras Contract Extensions and Backlog Growth
• Neutral Sentiment: Some broker coverage continues to frame Transocean as a “Hold,” suggesting the recent gains in backlog and credit quality may already be partly reflected in the stock.
• Negative Sentiment: Broader weakness in oil-related shares has also pressured Transocean at times, which can offset the benefit of the new contract announcements. RIG stock slides with oil, but Transocean’s fresh offshore contracts add $185M in backlog

Transocean Stock Performance

NYSE RIG opened at $5.60 on Thursday. Transocean Ltd. has a 52-week low of $2.51 and a 52-week high of $7.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The company has a market capitalization of $6.25 billion, a P/E ratio of -1.88 and a beta of 1.28. The company has a fifty day moving average of $6.39 and a 200-day moving average of $5.66.

Transocean (NYSE:RIG - Get Free Report) last issued its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.Transocean's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) EPS. As a group, equities research analysts predict that Transocean Ltd. will post 0.17 EPS for the current fiscal year.

Transocean Profile

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.

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