Transocean LTD (RIG) Shares Bought by Mitsubishi UFJ Securities Holdings Co. Ltd.

Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Transocean LTD (NYSE:RIG) by 45.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,900 shares of the offshore drilling services provider’s stock after acquiring an additional 6,810 shares during the period. Transocean comprises approximately 1.0% of Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings, making the stock its 22nd largest holding. Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings in Transocean were worth $306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RIG. Primecap Management Co. CA boosted its position in Transocean by 129.0% in the 3rd quarter. Primecap Management Co. CA now owns 32,168,839 shares of the offshore drilling services provider’s stock valued at $448,755,000 after buying an additional 18,121,494 shares during the last quarter. Asia Research & Capital Management Ltd boosted its position in Transocean by 0.4% in the 2nd quarter. Asia Research & Capital Management Ltd now owns 16,849,241 shares of the offshore drilling services provider’s stock valued at $226,454,000 after buying an additional 71,391 shares during the last quarter. Contrarius Investment Management Ltd boosted its position in Transocean by 0.5% in the 2nd quarter. Contrarius Investment Management Ltd now owns 12,631,817 shares of the offshore drilling services provider’s stock valued at $169,772,000 after buying an additional 64,474 shares during the last quarter. Platinum Investment Management Ltd. boosted its position in Transocean by 80.3% in the 2nd quarter. Platinum Investment Management Ltd. now owns 8,714,500 shares of the offshore drilling services provider’s stock valued at $117,123,000 after buying an additional 3,882,400 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Transocean by 17.6% in the 2nd quarter. Renaissance Technologies LLC now owns 8,022,428 shares of the offshore drilling services provider’s stock valued at $107,821,000 after buying an additional 1,200,528 shares during the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.

Shares of RIG stock traded down $0.79 during trading hours on Thursday, reaching $8.53. The company had a trading volume of 141,886 shares, compared to its average volume of 14,261,938. The company has a quick ratio of 2.77, a current ratio of 3.07 and a debt-to-equity ratio of 0.75. The company has a market cap of $4.30 billion, a P/E ratio of -141.50 and a beta of 1.54. Transocean LTD has a 1-year low of $8.70 and a 1-year high of $14.47.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.16. The company 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 firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 EPS. Research analysts anticipate that Transocean LTD will post -0.73 earnings per share for the current fiscal year.

A number of brokerages have commented on RIG. ValuEngine upgraded Transocean from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Piper Jaffray Companies set a $14.00 price objective on Transocean and gave the company a “hold” rating in a research report on Monday, October 1st. Susquehanna Bancshares set a $17.00 price objective on Transocean and gave the company a “buy” rating in a research report on Wednesday, October 10th. Cowen began coverage on Transocean in a research report on Saturday, October 13th. They issued a “hold” rating and a $12.00 price objective on the stock. Finally, Johnson Rice upgraded Transocean from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a research report on Wednesday, October 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Transocean presently has a consensus rating of “Hold” and a consensus target price of $13.79.

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Transocean Company 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.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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