Cubist Systematic Strategies LLC Makes New Investment in Transocean Ltd. (NYSE:RIG)

Cubist Systematic Strategies LLC purchased a new position in Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,133,360 shares of the offshore drilling services provider’s stock, valued at approximately $4,250,000. Cubist Systematic Strategies LLC owned 0.13% of Transocean as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RIG. Cetera Investment Advisers lifted its position in shares of Transocean by 11.4% during the fourth quarter. Cetera Investment Advisers now owns 195,435 shares of the offshore drilling services provider’s stock worth $733,000 after purchasing an additional 19,962 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Transocean by 392.0% during the 4th quarter. Baird Financial Group Inc. now owns 101,320 shares of the offshore drilling services provider’s stock valued at $380,000 after buying an additional 80,726 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Transocean during the 4th quarter valued at about $256,000. Mercer Global Advisors Inc. ADV boosted its position in Transocean by 23.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider’s stock valued at $71,000 after buying an additional 3,620 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its stake in Transocean by 908.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 205,184 shares of the offshore drilling services provider’s stock worth $769,000 after acquiring an additional 184,845 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity

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

Transocean Price Performance

Shares of NYSE RIG opened at $2.62 on Friday. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $6.38. The company has a market cap of $2.31 billion, a PE ratio of -3.59, a P/E/G ratio of 0.86 and a beta of 2.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. The business has a 50-day simple moving average of $2.63 and a two-hundred day simple moving average of $3.47.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RIG shares. Barclays lowered their price target on Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a report on Monday, April 7th. BTIG Research set a $5.00 price target on Transocean and gave the stock a “buy” rating in a research report on Monday. Citigroup lowered their price objective on shares of Transocean from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. SEB Equity Research set a $2.80 target price on shares of Transocean in a research report on Wednesday, March 5th. Finally, Susquehanna lowered their price target on shares of Transocean from $5.00 to $4.00 and set a “positive” rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Transocean presently has an average rating of “Hold” and an average price target of $4.63.

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.