Mason Street Advisors LLC Acquires 31,004 Shares of Transocean LTD (NYSE:RIG)

Mason Street Advisors LLC boosted its holdings in shares of Transocean LTD (NYSE:RIG) by 11.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,593 shares of the offshore drilling services provider’s stock after acquiring an additional 31,004 shares during the period. Mason Street Advisors LLC’s holdings in Transocean were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of RIG. Primecap Management Co. CA grew its holdings in Transocean by 51.7% during the 2nd quarter. Primecap Management Co. CA now owns 51,462,706 shares of the offshore drilling services provider’s stock worth $329,876,000 after acquiring an additional 17,538,067 shares in the last quarter. Perella Weinberg Partners Capital Management LP grew its holdings in Transocean by 5,240.6% during the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 4,507,196 shares of the offshore drilling services provider’s stock worth $28,891,000 after acquiring an additional 4,422,801 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Transocean during the 2nd quarter worth about $27,801,000. Brigade Capital Management LP bought a new position in Transocean during the 2nd quarter worth about $10,862,000. Finally, BlackRock Inc. grew its holdings in Transocean by 2.9% during the 2nd quarter. BlackRock Inc. now owns 48,524,391 shares of the offshore drilling services provider’s stock worth $311,041,000 after acquiring an additional 1,375,500 shares in the last quarter. Institutional investors own 70.85% of the company’s stock.

RIG stock opened at $4.86 on Monday. The firm has a 50 day moving average of $4.72 and a 200 day moving average of $5.63. The stock has a market capitalization of $2.88 billion, a PE ratio of -6.15 and a beta of 1.84. The company has a quick ratio of 2.21, a current ratio of 2.53 and a debt-to-equity ratio of 0.76. Transocean LTD has a 52 week low of $3.76 and a 52 week high of $10.03.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, October 28th. The offshore drilling services provider reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. Transocean had a negative net margin of 47.50% and a negative return on equity of 6.26%. The company had revenue of $784.00 million during the quarter, compared to analyst estimates of $773.64 million. During the same period last year, the firm posted $0.06 EPS. Transocean’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts expect that Transocean LTD will post -1.24 earnings per share for the current year.

RIG has been the topic of a number of recent analyst reports. UBS Group set a $10.00 price target on shares of Transocean and gave the company a “buy” rating in a report on Monday, August 26th. Piper Jaffray Companies set a $8.00 price target on shares of Transocean and gave the company a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley lowered their price target on shares of Transocean from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Royal Bank of Canada cut shares of Transocean from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $17.00 to $9.00 in a report on Wednesday, September 25th. Finally, ValuEngine cut shares of Transocean from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.04.

Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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