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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. raised its position in shares of Transocean by 10.9% during the 1st quarter. American Century Companies Inc. now owns 21,348,095 shares of the offshore drilling services provider's stock worth $67,673,000 after purchasing an additional 2,090,658 shares during the period. Marathon Trading Investment Management LLC acquired a new stake in Transocean in the 1st quarter valued at approximately $179,000. Dimensional Fund Advisors LP increased its position in Transocean by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 40,660,439 shares of the offshore drilling services provider's stock valued at $128,894,000 after acquiring an additional 651,843 shares during the period. Boston Partners increased its position in Transocean by 3.2% in the 1st quarter. Boston Partners now owns 140,904 shares of the offshore drilling services provider's stock valued at $447,000 after acquiring an additional 4,331 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in Transocean by 17.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 49,167 shares of the offshore drilling services provider's stock valued at $156,000 after acquiring an additional 7,166 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Price Performance

NYSE RIG traded down $0.06 on Friday, reaching $3.04. 24,464,050 shares of the stock traded hands, compared to its average volume of 22,341,536. The firm's fifty day simple moving average is $2.87 and its 200 day simple moving average is $2.80. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. The company has a market cap of $2.87 billion, a price-to-earnings ratio of -1.63, a P/E/G ratio of 6.48 and a beta of 2.52. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $4.87.

Analyst Ratings Changes

Several research firms recently commented on RIG. BTIG Research set a $5.00 target price on Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Barclays raised their target price on Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Morgan Stanley lowered their target price on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research report on Friday, May 16th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.26.

Transocean Company Profile

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.