Amalgamated Bank Purchases New Shares in Transocean Ltd. (NYSE:RIG)

Amalgamated Bank acquired a new position in Transocean Ltd. (NYSE:RIG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 25,234 shares of the offshore drilling services provider’s stock, valued at approximately $135,000.

Other institutional investors have also recently bought and sold shares of the company. SCP Investment LP bought a new stake in shares of Transocean in the fourth quarter valued at approximately $419,000. TFO Wealth Partners LLC lifted its position in shares of Transocean by 114,684.6% during the 4th quarter. TFO Wealth Partners LLC now owns 29,844 shares of the offshore drilling services provider’s stock valued at $190,000 after acquiring an additional 29,818 shares during the period. Capital World Investors grew its holdings in shares of Transocean by 34.7% during the 4th quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock worth $247,741,000 after purchasing an additional 10,049,077 shares in the last quarter. CenterBook Partners LP increased its position in shares of Transocean by 36.7% in the fourth quarter. CenterBook Partners LP now owns 748,196 shares of the offshore drilling services provider’s stock worth $4,751,000 after purchasing an additional 201,066 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Transocean in the fourth quarter valued at about $3,323,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley lowered their price objective on shares of Transocean from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of Transocean in a research note on Friday, August 2nd. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Finally, StockNews.com upgraded Transocean to a “sell” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Transocean has a consensus rating of “Hold” and a consensus target price of $7.00.

Insider Buying and Selling

In other news, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Transocean news, Director Perestroika bought 1,500,000 shares of the stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the acquisition, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the acquisition, the director now directly owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. The disclosure for this purchase can be found here. 13.16% of the stock is owned by insiders.

Transocean Stock Up 3.5 %

NYSE:RIG opened at $4.40 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a one year low of $3.85 and a one year high of $8.25. The firm’s 50 day simple moving average is $4.81 and its 200 day simple moving average is $5.40.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The company had revenue of $861.00 million during the quarter, compared to analyst estimates of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) earnings per share. On average, equities analysts anticipate that Transocean Ltd. will post -0.18 EPS for the current fiscal 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.