Schonfeld Strategic Advisors LLC Purchases 184,845 Shares of Transocean Ltd. (NYSE:RIG)

Schonfeld Strategic Advisors LLC increased its position in shares of Transocean Ltd. (NYSE:RIG) by 908.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,184 shares of the offshore drilling services provider’s stock after purchasing an additional 184,845 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Transocean were worth $769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIG. Twin Tree Management LP bought a new stake in Transocean in the 4th quarter valued at $27,000. Optiver Holding B.V. increased its stake 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 acquiring an additional 2,933 shares during the period. Blue Trust Inc. raised its position in Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after purchasing an additional 4,826 shares in the last quarter. Adero Partners LLC bought a new position in Transocean during the fourth quarter worth about $38,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Transocean during the fourth quarter valued at approximately $40,000. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RIG shares. BTIG Research set a $5.00 target price on Transocean and gave the stock a “buy” rating in a research report on Monday. SEB Equity Research set a $2.80 price objective on Transocean in a report on Wednesday, March 5th. Barclays lowered their target price on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating on the stock in a report on Monday, April 7th. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Finally, Morgan Stanley decreased their price objective on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.63.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction on Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the sale, the executive vice president now directly owns 362,841 shares of the company’s stock, valued at $809,135.43. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.54% of the stock is owned by corporate insiders.

Transocean Stock Up 9.3 %

Shares of RIG opened at $2.52 on Friday. The business’s fifty day moving average price is $2.63 and its two-hundred day moving average price is $3.48. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -3.45, a PEG ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $6.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $906.00 million for the quarter, compared to analysts’ expectations of $884.92 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share. On average, analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current year.

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.