GSA Capital Partners LLP Trims Holdings in Transocean Ltd. (RIG)

GSA Capital Partners LLP lessened its position in Transocean Ltd. (NYSE:RIG) by 34.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 278,556 shares of the offshore drilling services provider’s stock after selling 145,634 shares during the period. GSA Capital Partners LLP owned approximately 0.07% of Transocean worth $2,997,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in RIG. Louisiana State Employees Retirement System grew its stake in Transocean by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock valued at $200,000 after acquiring an additional 400 shares during the period. Public Employees Retirement Association of Colorado grew its stake in Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after acquiring an additional 1,394 shares during the period. CIBC Asset Management Inc grew its stake in Transocean by 3.7% in the second quarter. CIBC Asset Management Inc now owns 24,324 shares of the offshore drilling services provider’s stock valued at $200,000 after acquiring an additional 861 shares during the period. Sei Investments Co. grew its stake in Transocean by 6.2% in the second quarter. Sei Investments Co. now owns 207,281 shares of the offshore drilling services provider’s stock valued at $1,705,000 after acquiring an additional 12,147 shares during the period. Finally, TD Asset Management Inc. grew its stake in Transocean by 0.5% in the second quarter. TD Asset Management Inc. now owns 705,133 shares of the offshore drilling services provider’s stock valued at $5,803,000 after acquiring an additional 3,560 shares during the period. 73.09% of the stock is owned by hedge funds and other institutional investors.

Shares of Transocean Ltd. (NYSE:RIG) traded down $0.33 on Thursday, hitting $9.82. The company’s stock had a trading volume of 10,008,000 shares, compared to its average volume of 13,720,112. The company has a market capitalization of $3,970.81, a price-to-earnings ratio of 12.69 and a beta of 1.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 2.36. Transocean Ltd. has a 52-week low of $7.20 and a 52-week high of $16.16.

Transocean (NYSE:RIG) last issued its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million for the quarter, compared to analyst estimates of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The business’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. equities analysts forecast that Transocean Ltd. will post -0.34 EPS for the current year.

A number of equities research analysts have commented on RIG shares. Jefferies Group set a $9.00 price objective on Transocean and gave the company a “hold” rating in a research note on Wednesday, August 16th. Royal Bank of Canada raised Transocean from an “underperform” rating to a “sector perform” rating and set a $11.00 price objective for the company in a research note on Friday, August 25th. R. F. Lafferty set a $15.00 price objective on Transocean and gave the company a “buy” rating in a research note on Saturday, August 26th. ValuEngine cut Transocean from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Capital One Financial raised Transocean from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research note on Thursday, August 31st. Eleven research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. Transocean has an average rating of “Hold” and an average price target of $12.31.

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Transocean Profile

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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