326,947 Shares in Transocean Ltd. $RIG Purchased by Beaconlight Capital LLC

Beaconlight Capital LLC acquired a new stake in Transocean Ltd. (NYSE:RIG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 326,947 shares of the offshore drilling services provider’s stock, valued at approximately $2,168,000. Transocean accounts for about 1.1% of Beaconlight Capital LLC’s holdings, making the stock its 24th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in RIG. Fruth Investment Management increased its holdings in Transocean by 2.8% during the 4th quarter. Fruth Investment Management now owns 90,378 shares of the offshore drilling services provider’s stock worth $373,000 after purchasing an additional 2,500 shares during the period. Annandale Capital LLC lifted its position in Transocean by 17.7% during the 4th quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider’s stock worth $69,000 after acquiring an additional 2,500 shares during the period. Townsend & Associates Inc increased its stake in shares of Transocean by 16.0% during the fourth quarter. Townsend & Associates Inc now owns 29,000 shares of the offshore drilling services provider’s stock worth $126,000 after acquiring an additional 4,000 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Transocean by 20.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider’s stock worth $75,000 after acquiring an additional 4,026 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in Transocean by 19.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock valued at $101,000 after buying an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Price Performance

Shares of RIG stock opened at $5.35 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $5.71 and a two-hundred day moving average of $5.84. Transocean Ltd. has a 12 month low of $2.72 and a 12 month high of $7.66. The company has a market capitalization of $5.98 billion, a P/E ratio of -1.80, a P/E/G ratio of 3.70 and a beta of 1.30.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company earned ($0.10) EPS. As a group, equities analysts expect that Transocean Ltd. will post 0.13 EPS for the current year.

Insider Transactions at Transocean

In related news, Director Chad C. Deaton purchased 35,000 shares of Transocean stock in a transaction that occurred on Thursday, July 2nd. The shares were acquired at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the transaction, the director directly owned 237,421 shares in the company, valued at approximately $1,175,233.95. This represents a 17.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on RIG. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Friday, July 17th. Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. TD Cowen lifted their price target on shares of Transocean from $5.50 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Susquehanna dropped their target price on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Finally, Morgan Stanley upped their target price on shares of Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Transocean has a consensus rating of “Hold” and a consensus price target of $6.82.

About Transocean

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.