Elephas Investment Management Ltd Lowers Holdings in Transocean LTD (RIG)

Elephas Investment Management Ltd lowered its stake in shares of Transocean LTD (NYSE:RIG) by 89.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 408,729 shares of the offshore drilling services provider’s stock after selling 3,467,399 shares during the period. Transocean accounts for about 1.2% of Elephas Investment Management Ltd’s investment portfolio, making the stock its 9th biggest holding. Elephas Investment Management Ltd’s holdings in Transocean were worth $5,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its holdings in Transocean by 3.5% during the second quarter. Louisiana State Employees Retirement System now owns 118,500 shares of the offshore drilling services provider’s stock worth $1,593,000 after buying an additional 4,000 shares during the period. NumerixS Investment Technologies Inc lifted its holdings in Transocean by 6.8% during the second quarter. NumerixS Investment Technologies Inc now owns 75,948 shares of the offshore drilling services provider’s stock worth $1,018,000 after buying an additional 4,848 shares during the period. MinichMacGregor Wealth Management LLC lifted its holdings in Transocean by 100.0% during the third quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock worth $141,000 after buying an additional 5,000 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Transocean by 5.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 93,379 shares of the offshore drilling services provider’s stock worth $1,255,000 after buying an additional 5,201 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Transocean by 34.8% during the third quarter. Private Advisor Group LLC now owns 22,729 shares of the offshore drilling services provider’s stock worth $317,000 after buying an additional 5,870 shares during the period. Institutional investors own 70.86% of the company’s stock.

Shares of RIG stock opened at $10.49 on Friday. The firm has a market cap of $5.13 billion, a PE ratio of -174.83 and a beta of 1.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.77 and a current ratio of 3.07. Transocean LTD has a 12-month low of $8.70 and a 12-month high of $14.47.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.16. The business had revenue of $816.00 million for the quarter, compared to the consensus estimate of $779.19 million. Transocean had a negative return on equity of 2.31% and a negative net margin of 64.33%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, analysts predict that Transocean LTD will post -0.75 earnings per share for the current year.

In other news, Director Vincent J. Intrieri bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were purchased at an average cost of $10.62 per share, with a total value of $106,200.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $106,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

A number of analysts have weighed in on the company. ValuEngine lowered Transocean from a “buy” rating to a “hold” rating in a report on Thursday. DNB Markets upgraded Transocean from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. UBS Group upgraded Transocean from an “accumulate” rating to a “buy” rating in a report on Thursday, October 18th. Johnson Rice upgraded Transocean from a “sell” rating to a “hold” rating and set a $16.00 target price for the company in a report on Wednesday, October 17th. Finally, Cowen began coverage on Transocean in a report on Saturday, October 13th. They set a “hold” rating and a $12.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.79.

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Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

Further Reading: Cost of Debt

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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