River & Mercantile Asset Management LLP Has $11.54 Million Stake in Transocean LTD (RIG)

River & Mercantile Asset Management LLP grew its position in Transocean LTD (NYSE:RIG) by 23.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 826,565 shares of the offshore drilling services provider’s stock after acquiring an additional 156,271 shares during the period. Transocean comprises about 1.0% of River & Mercantile Asset Management LLP’s portfolio, making the stock its 16th largest holding. River & Mercantile Asset Management LLP owned 0.18% of Transocean worth $11,535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in RIG. Aperio Group LLC lifted its stake in shares of Transocean by 11.4% during the 2nd quarter. Aperio Group LLC now owns 62,783 shares of the offshore drilling services provider’s stock worth $844,000 after buying an additional 6,427 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Transocean by 5.9% during the 2nd 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 last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Transocean by 18.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 69,484 shares of the offshore drilling services provider’s stock worth $934,000 after buying an additional 10,829 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Transocean by 1,210.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 448,990 shares of the offshore drilling services provider’s stock worth $6,034,000 after buying an additional 414,720 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Transocean during the 2nd quarter worth about $9,420,000. 81.47% of the stock is owned by institutional investors.

Transocean stock traded up $0.21 during midday trading on Friday, hitting $8.95. The company’s stock had a trading volume of 259,840 shares, compared to its average volume of 13,613,597. Transocean LTD has a 1-year low of $8.36 and a 1-year high of $14.47. 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 stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -148.17 and a beta of 1.54.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.16. Transocean had a negative net margin of 64.33% and a negative return on equity of 2.31%. The business had revenue of $816.00 million during the quarter, compared to analysts’ expectations of $779.19 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Transocean LTD will post -0.72 earnings per share for the current fiscal year.

RIG has been the subject of a number of research reports. UBS Group upgraded shares of Transocean from an “accumulate” rating to a “buy” rating in a research note on Thursday, October 18th. Piper Jaffray Companies set a $14.00 target price on shares of Transocean and gave the stock a “hold” rating in a research note on Monday, October 1st. ValuEngine cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Morgan Stanley initiated coverage on shares of Transocean in a research note on Tuesday, September 18th. They set an “overweight” rating and a $15.00 target price for the company. Finally, Cowen initiated coverage on shares of Transocean in a research note 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’s stock. Transocean currently has an average 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.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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