Merrion Investment Management Co LLC Acquires 162,800 Shares of Transocean Ltd. $RIG

Posted by Stanley Muller on Oct 17th, 2026

Merrion Investment Management Co LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG – Free Report) in the third quarter, HoldingsChannel reports. The institutional investor bought 162,800 shares of the offshore drilling services provider’s stock, valued at approximately $853,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Transocean by 12.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock valued at $323,682,000 after buying an additional 5,349,264 shares during the last quarter. State Street Corp raised its holdings in Transocean by 8.7% in the 2nd quarter. State Street Corp now owns 27,148,850 shares of the offshore drilling services provider’s stock valued at $132,758,000 after acquiring an additional 2,166,646 shares during the period. Elliott Investment Management L.P. bought a new position in Transocean in the 1st quarter valued at about $103,606,000. Keybank National Association OH lifted its position in Transocean by 3.3% during the first quarter. Keybank National Association OH now owns 12,656,881 shares of the offshore drilling services provider’s stock worth $83,915,000 after acquiring an additional 405,804 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Transocean by 67.8% during the first quarter. Bank of New York Mellon Corp now owns 5,698,827 shares of the offshore drilling services provider’s stock worth $37,783,000 after acquiring an additional 2,303,297 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIG. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Thursday. Fearnley Fonds upgraded Transocean from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Barclays lowered their target price on Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Susquehanna dropped their price target on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Finally, Zacks Research upgraded Transocean from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.68.

Check Out Our Latest Stock Analysis on Transocean

Transocean Stock Performance

NYSE:RIG traded up $0.10 during mid-day trading on Friday, reaching $5.62. 51,084,676 shares of the company’s stock were exchanged, compared to its average volume of 39,059,328. Transocean Ltd. has a one year low of $3.14 and a one year high of $7.66. The firm has a market capitalization of $6.27 billion, a PE ratio of -2.99, a price-to-earnings-growth ratio of 4.07 and a beta of 1.41. The business’s fifty day simple moving average is $5.65 and its two-hundred day simple moving average is $5.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.27 and a current ratio of 1.59.

Transocean (NYSE:RIG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $956.64 million. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.06) EPS. Analysts anticipate that Transocean Ltd. will post 0.18 earnings per share for the current fiscal year.

Transocean Company Profile

(Free Report)

Transocean Ltd. is an offshore contract drilling company that provides drilling services to the international oil and gas industry. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater and harsh-environment drillships and semisubmersible rigs, which are contracted by energy companies to drill exploration, appraisal and development wells.

Transocean’s services support offshore drilling programs in challenging environments around the world. Its operations have included activity in the Gulf of Mexico, Brazil, the North Sea, West Africa and other major offshore regions.