1,080,000 Shares in Transocean Ltd. $RIG Bought by Paloma Partners Management Co

Key Points

• Paloma Partners Management Co acquired a new stake in Transocean Ltd. ($RIG) with approximately 1,080,000 shares valued at $3.4 million in the 1st quarter.
• Several large investors have adjusted their stakes in Transocean, with over 67% of the stock owned by hedge funds and institutional investors as of the last reporting period.
• Analysts have mixed ratings for RIG, with an average price target of $4.26, indicating cautious optimism in the stock's potential growth.

Paloma Partners Management Co bought a new position in shares of Transocean Ltd. (NYSE:RIG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,080,000 shares of the offshore drilling services provider's stock, valued at approximately $3,424,000. Paloma Partners Management Co owned 0.12% of Transocean at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RIG. Raymond James Financial Inc. bought a new position in shares of Transocean during the 4th quarter worth approximately $893,000. First Trust Advisors LP boosted its stake in shares of Transocean by 51.5% during the 4th quarter. First Trust Advisors LP now owns 930,851 shares of the offshore drilling services provider's stock worth $3,491,000 after acquiring an additional 316,362 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Transocean by 309.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 50,478 shares of the offshore drilling services provider's stock worth $189,000 after acquiring an additional 38,158 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Transocean by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 508,593 shares of the offshore drilling services provider's stock worth $1,908,000 after acquiring an additional 52,712 shares during the period. Finally, Boothbay Fund Management LLC boosted its stake in shares of Transocean by 114.0% during the 4th quarter. Boothbay Fund Management LLC now owns 10,954 shares of the offshore drilling services provider's stock worth $41,000 after acquiring an additional 89,354 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Transocean Price Performance

NYSE RIG traded up $0.10 during midday trading on Thursday, hitting $3.09. The company had a trading volume of 25,632,014 shares, compared to its average volume of 35,286,359. The company has a market capitalization of $2.91 billion, a PE ratio of -1.66, a P/E/G ratio of 6.48 and a beta of 2.79. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $2.89 and a 200-day moving average price of $2.80. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $4.76.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays lifted their target price on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Wall Street Zen raised Transocean from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Morgan Stanley dropped their price target on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $4.26.

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.