Transocean Ltd. $RIG Shares Bought by Clough Capital Partners L P

Key Points

• Clough Capital Partners L P increased its stake in Transocean by 157.3% in Q3 to 3,958,053 shares (about 0.36% of the company) valued at approximately $12.35 million.
• Company insiders have been net sellers — CEO Keelan Adamson sold 58,687 shares and EVP Roderick Mackenzie sold 78,370 shares — with insiders offloading 159,903 shares (~$906,098) in the past three months and now owning 12.27% of the stock.
• Analysts are mixed but cautious: Transocean's consensus rating is currently "Reduce" with an average price target of $6.38, while the stock trades near $6.37 and the company recently missed quarterly EPS expectations.

Clough Capital Partners L P raised its stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 157.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,958,053 shares of the offshore drilling services provider's stock after acquiring an additional 2,419,796 shares during the quarter. Clough Capital Partners L P owned approximately 0.36% of Transocean worth $12,349,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of RIG. Benedict Financial Advisors Inc. acquired a new stake in Transocean during the third quarter valued at approximately $31,000. Vestmark Advisory Solutions Inc. acquired a new position in shares of Transocean in the 3rd quarter worth approximately $31,000. Josh Arnold Investment Consultant LLC bought a new stake in shares of Transocean in the 2nd quarter valued at approximately $26,000. Blueshift Asset Management LLC bought a new stake in shares of Transocean in the 2nd quarter valued at approximately $27,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Transocean by 78.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider's stock valued at $28,000 after acquiring an additional 4,700 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Transocean

In related news, CEO Keelan Adamson sold 58,687 shares of Transocean stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the sale, the chief executive officer directly owned 1,222,182 shares in the company, valued at $6,110,910. The trade was a 4.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roderick James Mackenzie sold 78,370 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total transaction of $498,433.20. Following the completion of the sale, the executive vice president directly owned 268,025 shares of the company's stock, valued at $1,704,639. The trade was a 22.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 159,903 shares of company stock valued at $906,098. Company insiders own 12.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RIG shares. Barclays cut shares of Transocean from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $4.50 to $6.00 in a report on Wednesday, February 18th. BTIG Research boosted their price objective on shares of Transocean from $6.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, February 9th. Morgan Stanley increased their price objective on shares of Transocean from $4.50 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, February 23rd. Pareto Securities cut shares of Transocean from a "hold" rating to a "sell" rating and set a $5.25 target price on the stock. in a report on Tuesday, February 10th. Finally, Fearnley Fonds downgraded Transocean from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Transocean presently has an average rating of "Reduce" and an average target price of $6.38.

Transocean Stock Performance

RIG opened at $6.37 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $5.43 and its 200-day moving average is $4.32. The stock has a market cap of $7.02 billion, a PE ratio of -2.02 and a beta of 1.40. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $6.96.

Transocean (NYSE:RIG - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.07). The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Transocean had a positive return on equity of 0.41% and a negative net margin of 73.52%.The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned ($0.09) earnings per share. On average, analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.

Transocean Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean's fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company's core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.

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