Bayesian Capital Management LP Takes $256,000 Position in Transocean Ltd. (NYSE:RIG)

Bayesian Capital Management LP purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 68,400 shares of the offshore drilling services provider’s stock, valued at approximately $256,000.

Several other large investors have also recently bought and sold shares of RIG. Twin Tree Management LP purchased a new position in Transocean during the 4th quarter valued at about $27,000. Optiver Holding B.V. grew its position in Transocean by 53.6% during the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock valued at $32,000 after purchasing an additional 2,933 shares in the last quarter. Blue Trust Inc. grew its position in Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares in the last quarter. Adero Partners LLC acquired a new position in Transocean in the 4th quarter valued at approximately $38,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Transocean in the 4th quarter worth approximately $40,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Susquehanna dropped their price target on shares of Transocean from $5.00 to $4.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. BTIG Research set a $5.00 price target on Transocean and gave the stock a “buy” rating in a research note on Monday. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Morgan Stanley cut their price objective on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Finally, Barclays reduced their target price on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus price target of $4.63.

Transocean Stock Up 9.3 %

Transocean stock opened at $2.52 on Friday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -3.45, a P/E/G ratio of 0.86 and a beta of 2.52. The firm has a fifty day moving average price of $2.63 and a two-hundred day moving average price of $3.48. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $6.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.

Transocean (NYSE:RIG) last announced its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $906.00 million during the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) EPS. As a group, analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $2.23, for a total transaction of $49,060.00. Following the transaction, the executive vice president now directly owns 362,841 shares in the company, valued at $809,135.43. The trade was a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.54% of the stock is currently owned by 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.