(Cyprus) Ltd Perestroika Buys 2,000,000 Shares of Transocean Ltd. (NYSE:RIG) Stock

Transocean Ltd. (NYSE:RIG) Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the transaction, the director now owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

(Cyprus) Ltd Perestroika also recently made the following trade(s):

• On Wednesday, May 15th, (Cyprus) Ltd Perestroika acquired 2,000,000 shares of Transocean stock. The shares were acquired at an average price of $6.01 per share, with a total value of $12,020,000.00.

Transocean Price Performance

Shares of RIG opened at $5.06 on Wednesday. The firm has a market capitalization of $4.76 billion, a PE ratio of -9.72 and a beta of 2.85. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.04. The company’s 50-day moving average is $5.39 and its 200-day moving average is $5.56. Transocean Ltd. has a fifty-two week low of $4.45 and a fifty-two week high of $8.88.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The company had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. During the same quarter last year, the business earned ($0.15) earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Equities analysts forecast that Transocean Ltd. will post -0.04 EPS for the current year.

Institutional Trading of Transocean

Several institutional investors have recently added to or reduced their stakes in RIG. OLD Point Trust & Financial Services N A bought a new position in Transocean during the 4th quarter worth $25,000. VisionPoint Advisory Group LLC bought a new position in Transocean during the fourth quarter worth about $28,000. Nisa Investment Advisors LLC acquired a new stake in Transocean in the 2nd quarter worth about $30,000. Private Trust Co. NA boosted its holdings in Transocean by 1,489.8% in the 4th quarter. Private Trust Co. NA now owns 8,537 shares of the offshore drilling services provider’s stock valued at $54,000 after purchasing an additional 8,000 shares during the period. Finally, Fiducient Advisors LLC bought a new stake in Transocean in the 1st quarter valued at about $63,000. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on RIG shares. Evercore ISI dropped their target price on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of Transocean in a report on Friday, August 2nd. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Monday. Finally, Bank of America upped their price target on shares of Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.22.

Transocean Company Profile

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.