Castleark Management LLC Has $5.55 Million Stock Holdings in Transocean Ltd. $RIG

Castleark Management LLC trimmed its stake in shares of Transocean Ltd. (NYSE:RIG) by 26.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 837,120 shares of the offshore drilling services provider’s stock after selling 304,570 shares during the period. Castleark Management LLC owned about 0.07% of Transocean worth $5,550,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RIG. Fruth Investment Management raised 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 buying an additional 2,500 shares during the period. Annandale Capital LLC boosted its holdings in shares of Transocean by 17.7% in the fourth quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider’s stock worth $69,000 after buying an additional 2,500 shares during the period. Townsend & Associates Inc increased its position in shares of Transocean by 16.0% in 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 in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of 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 valued at $75,000 after acquiring an additional 4,026 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in Transocean by 19.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 24,497 shares of the offshore drilling services provider’s stock worth $101,000 after purchasing an additional 4,043 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In other news, Director Chad C. Deaton acquired 35,000 shares of Transocean stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average price of $4.95 per share, with a total value of $173,250.00. Following the completion of the transaction, the director owned 237,421 shares in the company, valued at approximately $1,175,233.95. This trade represents a 17.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.70% of the company’s stock.

Transocean Stock Down 1.4%

Transocean stock opened at $5.28 on Tuesday. Transocean Ltd. has a twelve month low of $2.72 and a twelve month high of $7.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The firm has a market cap of $5.89 billion, a PE ratio of -1.77, a P/E/G ratio of 3.72 and a beta of 1.30. The firm’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $5.86.

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

Wall Street Analysts Forecast Growth

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

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.