Vise Technologies Inc. Makes New Investment in Transocean Ltd. $RIG

Vise Technologies Inc. bought a new stake in shares of Transocean Ltd. (NYSE:RIG) during the second quarter, Holdings Channel.com reports. The fund bought 56,523 shares of the offshore drilling services provider’s stock, valued at approximately $146,000.

A number of other hedge funds also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Transocean by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after purchasing an additional 5,719,637 shares during the period. Nuveen LLC purchased a new stake in Transocean in the 1st quarter worth $7,774,000. American Century Companies Inc. raised its position in Transocean by 10.9% during the first quarter. American Century Companies Inc. now owns 21,348,095 shares of the offshore drilling services provider’s stock worth $67,673,000 after acquiring an additional 2,090,658 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Transocean by 114.0% during the first quarter. Cubist Systematic Strategies LLC now owns 2,424,925 shares of the offshore drilling services provider’s stock valued at $7,687,000 after purchasing an additional 1,291,565 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Transocean in the first quarter valued at about $3,424,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RIG. Citigroup raised their price target on shares of Transocean from $3.50 to $4.25 and gave the company a “neutral” rating in a research note on Friday. Barclays lifted their price target on Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Transocean from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.39.

Transocean Stock Up 0.6%

Shares of NYSE:RIG opened at $4.11 on Wednesday. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $4.51. The stock has a market cap of $4.52 billion, a P/E ratio of -1.25 and a beta of 2.65. The business has a fifty day moving average of $3.56 and a two-hundred day moving average of $3.09. 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 (NYSE:RIG) last announced its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. Transocean had a negative net margin of 75.71% and a positive return on equity of 0.43%. The firm had revenue of ($1,894.00) million for the quarter, compared to analysts’ expectations of $1.01 billion. The company’s revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Activity

In other news, CEO Keelan Adamson sold 40,942 shares of Transocean stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $4.00, for a total transaction of $163,768.00. Following the sale, the chief executive officer owned 1,370,152 shares of the company’s stock, valued at approximately $5,480,608. The trade was a 2.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director (Cyprus) Ltd Perestroika acquired 4,000,000 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was acquired at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the transaction, the director directly owned 95,074,894 shares of the company’s stock, valued at $289,978,426.70. This trade represents a 4.39% increase in their position. The SEC filing for this purchase provides additional information. 12.27% of the stock is owned by insiders.

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.