Mirador Capital Partners LP Acquires 19,692 Shares of Transocean Ltd. (NYSE:RIG)

Mirador Capital Partners LP grew its stake in Transocean Ltd. (NYSE:RIG) by 16.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,968 shares of the offshore drilling services provider’s stock after acquiring an additional 19,692 shares during the quarter. Mirador Capital Partners LP’s holdings in Transocean were worth $892,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in Transocean by 34.7% in the 4th quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock worth $247,741,000 after purchasing an additional 10,049,077 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Transocean by 23.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 35,690,620 shares of the offshore drilling services provider’s stock worth $226,641,000 after buying an additional 6,719,483 shares during the period. Primecap Management Co. CA raised its stake in shares of Transocean by 11.4% during the 4th quarter. Primecap Management Co. CA now owns 50,699,389 shares of the offshore drilling services provider’s stock worth $321,941,000 after buying an additional 5,168,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Transocean by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock worth $435,306,000 after buying an additional 4,107,956 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Transocean by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 15,908,217 shares of the offshore drilling services provider’s stock worth $101,017,000 after buying an additional 1,616,690 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Transocean

In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $6.01 per share, with a total value of $12,020,000.00. Following the transaction, the director now owns 87,574,894 shares of the company’s stock, valued at $526,325,112.94. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.54% of the company’s stock.

Analyst Upgrades and Downgrades

RIG has been the subject of several research analyst reports. Bank of America upped their target price on Transocean from $5.50 to $6.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of Transocean in a research note on Tuesday, April 30th. Susquehanna raised Transocean from a “neutral” rating to a “positive” rating and upped their target price for the stock from $5.50 to $9.00 in a research note on Monday, April 8th. Finally, Evercore ISI reduced their price objective on Transocean from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.70.

Transocean Trading Down 0.6 %

Transocean stock traded down $0.03 during midday trading on Monday, reaching $5.32. 1,284,677 shares of the stock traded hands, compared to its average volume of 18,155,025. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.65. The firm has a market cap of $4.36 billion, a PE ratio of -10.21 and a beta of 2.85. The company has a 50-day simple moving average of $5.64 and a two-hundred day simple moving average of $5.68. Transocean Ltd. has a 12-month low of $4.45 and a 12-month high of $8.88.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The company had revenue of $767.00 million for the quarter, compared to analyst estimates of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. Transocean’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. Research analysts expect that Transocean Ltd. will post -0.04 earnings per share for the current fiscal year.

Transocean 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.