Nisa Investment Advisors LLC Invests $30,000 in Transocean Ltd. (NYSE:RIG)

Nisa Investment Advisors LLC acquired a new stake in shares of Transocean Ltd. (NYSE:RIG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,697 shares of the offshore drilling services provider’s stock, valued at approximately $30,000.

A number of other hedge funds also recently bought and sold shares of the company. OLD Point Trust & Financial Services N A purchased a new position in shares of Transocean during the fourth quarter worth approximately $25,000. VisionPoint Advisory Group LLC bought a new stake in Transocean in the fourth quarter worth $28,000. Fiducient Advisors LLC purchased a new stake in Transocean during the first quarter valued at about $63,000. SG Americas Securities LLC bought a new position in shares of Transocean during the second quarter valued at about $64,000. Finally, Fermata Advisors LLC bought a new stake in shares of Transocean in the 1st quarter valued at about $75,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RIG has been the topic of a number of analyst reports. StockNews.com raised Transocean to a “sell” rating in a research note on Monday, August 5th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of Transocean in a report on Friday, August 2nd. Finally, Evercore ISI cut their price target on shares of Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Transocean Price Performance

Shares of NYSE RIG opened at $4.98 on Tuesday. The firm has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $5.52. Transocean Ltd. has a 12 month low of $4.45 and a 12 month high of $8.88. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $4.68 billion, a PE ratio of -9.57 and a beta of 2.85.

Transocean (NYSE:RIG) last issued its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) 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 during the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter last year, the business earned ($0.15) earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts expect that Transocean Ltd. will post -0.1 earnings per share for the current year.

Insider Activity at Transocean

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

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.