Quantbot Technologies LP Purchases New Holdings in Transocean Ltd. $RIG

Key Points

• Quantbot Technologies LP has invested approximately $688,000 in Transocean Ltd., acquiring 217,016 shares during the first quarter.
• Several institutional investors, including American Century Companies Inc. and Caitong International Asset Management Co. Ltd., have increased their stakes in Transocean during the same period, reflecting growing interest in the company.
• Analysts have mixed ratings for Transocean, with a shift from a "sell" to a "hold" rating by Wall Street Zen and a target price ranging from $3.50 to $5.00 among various firms.

Quantbot Technologies LP purchased a new stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 217,016 shares of the offshore drilling services provider's stock, valued at approximately $688,000.

Several other hedge funds also recently modified their holdings of RIG. Raymond James Financial Inc. acquired a new position in shares of Transocean during the 4th quarter valued at $893,000. Mariner LLC boosted its stake in shares of Transocean by 46.2% during the 4th quarter. Mariner LLC now owns 140,817 shares of the offshore drilling services provider's stock worth $528,000 after acquiring an additional 44,527 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Transocean by 4.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 379,955 shares of the offshore drilling services provider's stock worth $1,420,000 after acquiring an additional 14,628 shares in the last quarter. 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 in the last quarter. Finally, 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 in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Performance

Shares of Transocean stock traded down $0.09 during trading on Thursday, reaching $3.09. The company's stock had a trading volume of 24,232,910 shares, compared to its average volume of 35,533,352. 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 price is $2.86 and its 200-day moving average price is $2.82. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -1.66, a price-to-earnings-growth ratio of 6.50 and a beta of 2.52. Transocean Ltd. has a one year low of $1.97 and a one year high of $4.87.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RIG. Barclays raised their price objective on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley reduced their price objective on Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. BTIG Research set a $5.00 price objective on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised Transocean from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Transocean presently has a consensus 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.