124,091 Shares in Transocean Ltd. $RIG Bought by ProShare Advisors LLC

ProShare Advisors LLC bought a new stake in shares of Transocean Ltd. (NYSE:RIG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 124,091 shares of the offshore drilling services provider’s stock, valued at approximately $650,000.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Transocean by 12.3% during the first quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock valued at $323,682,000 after acquiring an additional 5,349,264 shares in the last quarter. State Street Corp lifted its stake in Transocean by 8.7% in the second quarter. State Street Corp now owns 27,148,850 shares of the offshore drilling services provider’s stock worth $132,758,000 after acquiring an additional 2,166,646 shares during the period. Elliott Investment Management L.P. bought a new stake in Transocean in the first quarter valued at $103,606,000. Bank of New York Mellon Corp boosted its holdings in Transocean by 67.8% in the first quarter. Bank of New York Mellon Corp now owns 5,698,827 shares of the offshore drilling services provider’s stock valued at $37,783,000 after acquiring an additional 2,303,297 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Transocean during the 2nd quarter valued at $37,477,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Transocean Stock Up 0.1%

Shares of NYSE:RIG opened at $5.25 on Monday. Transocean Ltd. has a 52-week low of $3.68 and a 52-week high of $7.66. The firm has a market capitalization of $5.86 billion, a P/E ratio of 37.46, a P/E/G ratio of 3.83 and a beta of 1.44. The stock has a 50 day moving average price of $5.74 and a 200-day moving average price of $5.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.53.

Transocean (NYSE:RIG) last released its earnings results on Monday, November 2nd. The offshore drilling services provider reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Transocean had a return on equity of 1.84% and a net margin of 7.25%. The company had revenue of $937.00 million during the quarter, compared to analysts’ expectations of $943.99 million. During the same quarter last year, the business posted ($2.00) EPS. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Transocean Ltd. will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Fearnley Fonds upgraded shares of Transocean from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research report on Thursday, October 15th. Zacks Research raised shares of Transocean from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Wall Street Zen cut shares of Transocean from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Barclays reduced their price target on shares of Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.68.

About Transocean

Transocean Ltd. is an offshore contract drilling company that provides drilling services to oil and gas companies around the world. Its work focuses on offshore exploration and development, particularly in deepwater and harsh-environment locations.

The company owns and operates a fleet of offshore drilling rigs, including drillships and semisubmersible rigs. It contracts these rigs to customers and provides the crews and related services needed to conduct offshore drilling operations.

Transocean serves customers across multiple offshore regions worldwide.