Transocean Ltd. $RIG Shares Purchased by Jump Financial LLC

Key Points

• Jump Financial LLC increased its holdings in Transocean Ltd. by 156.2%, acquiring an additional 908,219 shares, amounting to a total of 1,489,600 shares valued at approximately $4.72 million.
• Transocean's stock price is currently $3.10 with a market cap of $2.92 billion; analysts project a consensus target price of $4.26, with ratings ranging from "Buy" to "Hold."
• Institutional investors now own 67.73% of Transocean's stock, reflecting significant interest in the company amidst ongoing adjustments in positions by various investment firms during the first quarter.

Jump Financial LLC lifted its holdings in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 156.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,489,600 shares of the offshore drilling services provider's stock after acquiring an additional 908,219 shares during the period. Jump Financial LLC owned 0.17% of Transocean worth $4,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RIG. Optiver Holding B.V. grew its stake in Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock worth $32,000 after buying an additional 2,933 shares during the last quarter. Parallel Advisors LLC grew its stake in Transocean by 154.8% during the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock worth $28,000 after buying an additional 5,353 shares during the last quarter. Townsend & Associates Inc purchased a new position in Transocean during the 1st quarter worth approximately $32,000. Costello Asset Management INC purchased a new position in Transocean during the 1st quarter worth approximately $32,000. Finally, Guardian Wealth Advisors LLC NC purchased a new position in Transocean during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Transocean Price Performance

Shares of RIG traded down $0.06 during mid-day trading on Friday, hitting $3.04. The company's stock had a trading volume of 24,464,050 shares, compared to its average volume of 22,140,236. 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 simple moving average of $2.87 and a 200 day simple moving average of $2.80. The firm has a market capitalization of $2.87 billion, a P/E ratio of -1.63, a P/E/G ratio of 6.48 and a beta of 2.79. Transocean Ltd. has a 1-year low of $1.97 and a 1-year high of $4.87.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RIG. Morgan Stanley dropped their price target on Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. BTIG Research set a $5.00 price target on Transocean and gave the stock a "buy" rating in a research note on Monday, May 5th. Barclays lifted their target price on Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus 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.