Tejara Capital Ltd Has $2.77 Million Stock Position in Transocean Ltd. $RIG

Tejara Capital Ltd lowered its holdings in shares of Transocean Ltd. (NYSE:RIG) by 46.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 889,066 shares of the offshore drilling services provider’s stock after selling 764,720 shares during the quarter. Transocean comprises about 1.4% of Tejara Capital Ltd’s investment portfolio, making the stock its 25th biggest position. Tejara Capital Ltd owned approximately 0.09% of Transocean worth $2,774,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Josh Arnold Investment Consultant LLC acquired a new stake in shares of Transocean in the second quarter worth about $26,000. Blume Capital Management Inc. lifted its holdings in Transocean by 125.9% in the 2nd quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock worth $27,000 after purchasing an additional 5,885 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in Transocean in the 2nd quarter worth approximately $27,000. SBI Securities Co. Ltd. boosted its position in Transocean by 78.0% during the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock worth $28,000 after purchasing an additional 4,700 shares during the period. Finally, Callan Family Office LLC acquired a new position in Transocean during the second quarter valued at approximately $30,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Stock Up 1.1%

NYSE RIG opened at $4.98 on Friday. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $5.17. The stock has a market cap of $5.48 billion, a PE ratio of -1.52 and a beta of 1.36. The firm has a 50-day simple moving average of $4.31 and a 200 day simple moving average of $3.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. Transocean had a positive return on equity of 0.45% and a negative net margin of 75.71%.The firm had revenue of ($1,894.00) million for the quarter, compared to analyst estimates of $1.01 billion. Transocean’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, research analysts forecast that Transocean Ltd. will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Citigroup upped their price target on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. Susquehanna lifted their price objective on Transocean from $4.50 to $5.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.38.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 35,000 shares of Transocean stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $4.48, for a total transaction of $156,800.00. Following the sale, the executive vice president owned 212,072 shares in the company, valued at $950,082.56. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Perestroika acquired 1,500,000 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was acquired at an average price of $4.02 per share, with a total value of $6,030,000.00. Following the purchase, the director owned 96,574,894 shares in the company, valued at approximately $388,231,073.88. This represents a 1.58% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 712,970 shares of company stock valued at $3,152,132 over the last 90 days. Corporate insiders own 12.27% of the company’s stock.

Transocean Company 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.