Transocean Ltd. (NYSE:RIG) Shares Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC raised its position in Transocean Ltd. (NYSE:RIG) by 685.6% during the 1st quarter, Holdings Channel reports. The firm owned 713,390 shares of the offshore drilling services provider’s stock after acquiring an additional 622,580 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Transocean were worth $4,480,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Murphy Pohlad Asset Management LLC lifted its position in shares of Transocean by 1.7% in the first quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider’s stock valued at $604,000 after acquiring an additional 1,600 shares in the last quarter. Traynor Capital Management Inc. lifted its position in shares of Transocean by 5.2% in the first quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock valued at $209,000 after acquiring an additional 1,650 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Transocean by 8.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock worth $140,000 after buying an additional 1,767 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Transocean by 16.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 14,371 shares of the offshore drilling services provider’s stock worth $118,000 after buying an additional 2,000 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in Transocean by 7.4% during the fourth quarter. 180 Wealth Advisors LLC now owns 31,496 shares of the offshore drilling services provider’s stock worth $197,000 after buying an additional 2,170 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Stock Up 2.3 %

Shares of RIG stock traded up $0.12 during trading hours on Friday, reaching $5.30. The company had a trading volume of 15,489,615 shares, compared to its average volume of 20,018,316. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35. Transocean Ltd. has a twelve month low of $4.45 and a twelve month high of $8.88. The company has a market capitalization of $4.99 billion, a P/E ratio of -10.19 and a beta of 2.85. The stock’s fifty day simple moving average is $5.53 and its 200 day simple moving average is $5.61.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The firm had revenue of $767.00 million during the quarter, compared to analyst estimates of $781.86 million. During the same quarter last year, the firm earned ($0.38) EPS. Transocean’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts expect that Transocean Ltd. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Transocean

In other Transocean news, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the purchase, the director now directly owns 87,574,894 shares in the company, valued at $526,325,112.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RIG shares. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of Transocean in a research report on Tuesday, April 30th. Evercore ISI cut their price objective on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Bank of America raised their price objective on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a report on Monday, April 15th. Finally, Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $5.50 to $9.00 in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.70.

About Transocean

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.