Jump Financial LLC Buys 908,219 Shares of Transocean Ltd. $RIG

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 Transocean Ltd. (NYSE:RIG - Free Report) by 156.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,489,600 shares of the offshore drilling services provider's stock after purchasing 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.

Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in shares of 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 purchasing an additional 5,353 shares during the period. Optiver Holding B.V. boosted its position in Transocean by 53.6% in the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after buying an additional 2,933 shares in the last quarter. Townsend & Associates Inc acquired a new position in Transocean in the first quarter valued at about $32,000. Costello Asset Management INC acquired a new position in shares of Transocean during the first quarter worth approximately $32,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Transocean during the first quarter worth approximately $35,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

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

Transocean Price Performance

Shares of NYSE:RIG traded down $0.09 during midday trading on Thursday, hitting $3.09. The stock had a trading volume of 24,232,910 shares, compared to its average volume of 22,334,648. The company's 50-day moving average price is $2.86 and its 200-day moving average price is $2.82. The company has a market capitalization of $2.91 billion, a P/E ratio of -1.66, a price-to-earnings-growth ratio of 6.78 and a beta of 2.52. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $4.87.

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.