OppenheimerFunds Inc. acquired a new position in Transocean LTD (NYSE:RIG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 97,624 shares of the offshore drilling services provider’s stock, valued at approximately $1,043,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Transocean by 1.3% in the 4th quarter. BlackRock Inc. now owns 35,420,454 shares of the offshore drilling services provider’s stock worth $378,292,000 after acquiring an additional 467,613 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Transocean by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 12,729,364 shares of the offshore drilling services provider’s stock worth $136,965,000 after acquiring an additional 135,470 shares during the period. Contrarius Investment Management Ltd increased its stake in Transocean by 10.3% during the 3rd quarter. Contrarius Investment Management Ltd now owns 10,742,267 shares of the offshore drilling services provider’s stock valued at $115,587,000 after buying an additional 1,002,237 shares during the period. Van ECK Associates Corp increased its stake in Transocean by 6.4% during the 3rd quarter. Van ECK Associates Corp now owns 5,953,402 shares of the offshore drilling services provider’s stock valued at $64,059,000 after buying an additional 356,048 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Transocean by 28.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,580,112 shares of the offshore drilling services provider’s stock valued at $49,282,000 after buying an additional 1,022,621 shares during the period. 63.89% of the stock is currently owned by institutional investors and hedge funds.
In other Transocean news, SVP David A. Tonnel sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $9.39, for a total value of $84,510.00. Following the completion of the transaction, the senior vice president now directly owns 75,349 shares in the company, valued at $707,527.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederik Wilhelm Mohn bought 2,000,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average price of $9.29 per share, with a total value of $18,580,000.00. The disclosure for this purchase can be found here. Company insiders own 0.33% of the company’s stock.
Transocean LTD (RIG) opened at $9.88 on Friday. Transocean LTD has a 12-month low of $7.20 and a 12-month high of $13.04. The company has a current ratio of 3.36, a quick ratio of 3.06 and a debt-to-equity ratio of 0.56.
Transocean (NYSE:RIG) last announced its earnings results on Tuesday, February 20th. The offshore drilling services provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Transocean had a negative return on equity of 0.17% and a negative net margin of 105.18%. The firm had revenue of $629.00 million during the quarter, compared to analyst estimates of $619.66 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The business’s quarterly revenue was down 35.4% compared to the same quarter last year. analysts expect that Transocean LTD will post -0.71 earnings per share for the current fiscal year.
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Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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