Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $2.34 Million in Transocean Ltd. $RIG

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Transocean Ltd. (NYSE:RIG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 566,158 shares of the offshore drilling services provider’s stock, valued at approximately $2,338,000.

Other hedge funds also recently modified their holdings of the company. TD Waterhouse Canada Inc. increased its holdings in shares of Transocean by 22,432.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock worth $26,000 after buying an additional 6,281 shares in the last quarter. Josh Arnold Investment Consultant LLC acquired a new stake in shares of Transocean during the second quarter worth approximately $26,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Transocean during the fourth quarter worth approximately $27,000. Benedict Financial Advisors Inc. acquired a new stake in shares of Transocean during the third quarter worth approximately $31,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in shares of Transocean during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Trading Down 1.5%

Shares of NYSE RIG opened at $7.34 on Thursday. The company’s fifty day moving average is $6.52 and its 200-day moving average is $5.36. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of -2.46 and a beta of 1.34. Transocean Ltd. has a twelve month low of $2.34 and a twelve month high of $7.66. The company has a quick ratio of 1.20, a current ratio of 1.54 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Equities research analysts predict that Transocean Ltd. will post 0.16 EPS for the current year.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 78,370 shares of Transocean stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the sale, the executive vice president directly owned 268,025 shares in the company, valued at approximately $1,704,639. The trade was a 22.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the subject of several recent analyst reports. Clarkson Capital lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 19th. BTIG Research raised their price objective on shares of Transocean from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Finally, Susquehanna increased their price target on shares of Transocean from $7.50 to $8.00 and gave the company a “positive” rating in a research note on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.96.

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.