Fideuram Intesa Sanpaolo Private Banking S.P.A. Has $17.22 Million Stock Holdings in Transocean Ltd. $RIG

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. significantly increased its Transocean stake by 358.8% in the first quarter, ending with 2.6 million shares valued at about $17.2 million.
• Transocean recently secured a conditional agreement with Equinor for three harsh-environment rigs, a deal that could add more than $1 billion to backlog, though it still needs license approvals.
• The company’s latest earnings missed EPS expectations but beat on revenue, while analysts remain mixed overall with a consensus Hold rating and average price target of $6.96.

Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 358.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,597,366 shares of the offshore drilling services provider's stock after acquiring an additional 2,031,208 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned 0.23% of Transocean worth $17,221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fruth Investment Management boosted its position in Transocean by 2.8% during the fourth quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider's stock valued at $373,000 after purchasing an additional 2,500 shares during the last quarter. Annandale Capital LLC increased its position in shares of Transocean by 17.7% during the 4th quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider's stock worth $69,000 after purchasing an additional 2,500 shares during the last quarter. Townsend & Associates Inc increased its position in shares of Transocean by 16.0% during the 4th quarter. Townsend & Associates Inc now owns 29,000 shares of the offshore drilling services provider's stock worth $126,000 after purchasing an additional 4,000 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Transocean by 20.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider's stock worth $75,000 after purchasing an additional 4,026 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Transocean by 19.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider's stock valued at $101,000 after buying an additional 4,043 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Trending Headlines about Transocean

Here are the key news stories impacting Transocean this week:

• Positive Sentiment: Transocean secured a conditional agreement with Equinor for three “Cat D” harsh-environment rigs, adding over $1 billion to backlog and strengthening future revenue visibility. MarketWatch article
• Positive Sentiment: Analysts at Zacks Research recently raised some longer-term earnings estimates for Transocean, reflecting improved expectations following the Equinor deal.
• Neutral Sentiment: The Equinor contract remains subject to license approvals, so the full benefit is not yet finalized.
• Negative Sentiment: Other Zacks updates trimmed near-term earnings estimates for 2026-2027, suggesting profitability may remain uneven before the new contract fully ramps.

Transocean Price Performance

NYSE:RIG opened at $5.05 on Friday. The company has a market cap of $5.64 billion, a P/E ratio of -1.70 and a beta of 1.30. The firm's fifty day moving average price is $6.13 and its two-hundred day moving average price is $5.72. Transocean Ltd. has a one year low of $2.53 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.20.

Transocean (NYSE:RIG - Get Free Report) last posted its earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) EPS. Equities analysts expect that Transocean Ltd. will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Clarkson Capital downgraded shares of Transocean from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 19th. Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $7.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 15th. Barclays upgraded shares of Transocean from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $6.00 to $8.00 in a research note on Thursday, May 7th. TD Cowen lifted their price target on Transocean from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Transocean in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.96.

Transocean Company 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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