Transocean Ltd. (NYSE:RIG) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 84,906,247 shares, an increase of 6.4% from the November 15th total of 79,805,102 shares. Based on an average trading volume of 8,181,013 shares, the days-to-cover ratio is currently 10.4 days. Currently, 21.7% of the shares of the stock are sold short.
Shares of Transocean (NYSE:RIG) opened at $9.45 on Friday. The company has a quick ratio of 2.13, a current ratio of 2.36 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3,720.44, a PE ratio of 11.89 and a beta of 1.80. Transocean has a 12-month low of $7.20 and a 12-month high of $16.16.
Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, November 1st. The offshore drilling services provider reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million during the quarter, compared to analyst estimates of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The company’s revenue was down 10.8% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share. analysts anticipate that Transocean will post -0.34 EPS for the current year.
A number of hedge funds have recently made changes to their positions in RIG. Public Employees Retirement Association of Colorado increased its position in Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after purchasing an additional 1,394 shares during the period. Dumont & Blake Investment Advisors LLC acquired a new stake in Transocean in the third quarter worth about $108,000. Capstone Investment Advisors Netherlands B.V. acquired a new stake in Transocean in the second quarter worth about $111,000. Dupont Capital Management Corp bought a new position in Transocean during the second quarter worth about $113,000. Finally, Saratoga Research & Investment Management bought a new position in Transocean during the third quarter worth about $115,000. Hedge funds and other institutional investors own 73.09% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was published by Week Herald and is the property of of Week Herald. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://weekherald.com/2017/12/17/transocean-ltd-rig-short-interest-up-6-4-in-november.html.
Transocean Company Profile
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.
Receive News & Ratings for Transocean Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean and related companies with MarketBeat.com's FREE daily email newsletter.