Simplicity Wealth LLC Purchases Shares of 30,000 Transocean Ltd. (NYSE:RIG)

Simplicity Wealth LLC acquired a new stake in shares of Transocean Ltd. (NYSE:RIG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the offshore drilling services provider’s stock, valued at approximately $160,000.

Other large investors have also modified their holdings of the company. Capital World Investors boosted its position in shares of 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 valued at $247,741,000 after purchasing an additional 10,049,077 shares during the period. Dimensional Fund Advisors LP boosted its stake in Transocean by 23.2% in 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 purchasing an additional 6,719,483 shares during the period. Primecap Management Co. CA boosted its stake in Transocean by 11.4% in 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 purchasing an additional 5,168,000 shares during the period. Vanguard Group Inc. grew its position in 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 purchasing an additional 4,107,956 shares in the last quarter. Finally, Kailix Advisors LLC acquired a new stake in Transocean during the 1st quarter valued at $14,534,000. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Evercore ISI lowered their price target on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. StockNews.com upgraded Transocean to a “sell” rating in a report on Monday, August 5th. Benchmark restated a “buy” rating and set a $8.00 price target on shares of Transocean in a report on Friday, August 2nd. Finally, Bank of America boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Transocean has an average rating of “Hold” and an average target price of $7.22.

Transocean Stock Performance

Shares of RIG opened at $5.22 on Tuesday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of -10.04 and a beta of 2.85. The company’s fifty day moving average is $5.33 and its 200-day moving average is $5.54. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. Transocean Ltd. has a 12 month low of $4.45 and a 12 month high of $8.88.

Transocean (NYSE:RIG) last posted its earnings results 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 business had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts expect that Transocean Ltd. will post -0.07 EPS for the current fiscal year.

Insider Activity

In related news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of Transocean stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the acquisition, the director now owns 89,574,894 shares in the company, valued at $468,476,695.62. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.16% of the stock is currently owned by insiders.

About Transocean

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.