Cambridge Investment Research Advisors Inc. Acquires 78,382 Shares of Transocean Ltd. (NYSE:RIG)

Cambridge Investment Research Advisors Inc. boosted its stake in shares of Transocean Ltd. (NYSE:RIG) by 44.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 256,172 shares of the offshore drilling services provider’s stock after buying an additional 78,382 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Transocean were worth $1,371,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RIG. OLD Point Trust & Financial Services N A purchased a new stake in Transocean during the fourth quarter valued at about $25,000. VisionPoint Advisory Group LLC bought a new stake in shares of Transocean during the fourth quarter valued at about $28,000. Nisa Investment Advisors LLC purchased a new stake in shares of Transocean in the second quarter worth about $30,000. Fiducient Advisors LLC bought a new position in shares of Transocean in the first quarter valued at approximately $63,000. Finally, SG Americas Securities LLC bought a new stake in Transocean during the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Trading Down 4.2 %

Shares of RIG stock opened at $4.14 on Thursday. The business has a 50-day moving average price of $5.17 and a two-hundred day moving average price of $5.50. Transocean Ltd. has a 12-month low of $4.12 and a 12-month high of $8.88. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.62 billion, a P/E ratio of -7.96 and a beta of 2.80.

Transocean (NYSE:RIG) last released its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $862.25 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts anticipate that Transocean Ltd. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on RIG shares. StockNews.com raised shares of Transocean to a “sell” rating in a report on Monday, August 5th. Benchmark restated a “buy” rating and set a $8.00 target price on shares of Transocean in a research report on Friday, August 2nd. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.25.

Insider Activity

In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $5.23 per share, for a total transaction of $10,460,000.00. Following the transaction, the director now directly owns 89,574,894 shares in the company, valued at $468,476,695.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.16% of the stock is owned by corporate insiders.

About Transocean

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.