On August 29, 2023 at 13:22:30 ET an unusually large $309.94K block of Call contracts in Transocean (RIG) was sold, with a strike price of $8.00 / share, expiring in 52 day(s) (on October 20, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 3.70 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in RIG options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 493 funds or institutions reporting positions in Transocean. This is a decrease of 9 owner(s) or 1.79% in the last quarter. Average portfolio weight of all funds dedicated to RIG is 0.29%, a decrease of 6.02%. Total shares owned by institutions decreased in the last three months by 2.39% to 527,113K shares. The put/call ratio of RIG is 0.63, indicating a bullish outlook.
Analyst Price Forecast Suggests 5.70% Upside
As of August 2, 2023, the average one-year price target for Transocean is 8.16. The forecasts range from a low of 5.05 to a high of $12.60. The average price target represents an increase of 5.70% from its latest reported closing price of 7.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Transocean is 3,123MM, an increase of 16.75%. The projected annual non-GAAP EPS is -0.18.
What are Other Shareholders Doing?
Primecap Management holds 45,465K shares representing 5.93% ownership of the company. In it’s prior filing, the firm reported owning 46,322K shares, representing a decrease of 1.88%. The firm increased its portfolio allocation in RIG by 3.67% over the last quarter.
Capital World Investors holds 27,597K shares representing 3.60% ownership of the company. In it’s prior filing, the firm reported owning 9,946K shares, representing an increase of 63.96%. The firm increased its portfolio allocation in RIG by 184.58% over the last quarter.
Slate Path Capital holds 23,315K shares representing 3.04% ownership of the company. In it’s prior filing, the firm reported owning 23,095K shares, representing an increase of 0.94%. The firm decreased its portfolio allocation in RIG by 13.36% over the last quarter.
D. E. Shaw holds 22,982K shares representing 3.00% ownership of the company. In it’s prior filing, the firm reported owning 25,735K shares, representing a decrease of 11.98%. The firm increased its portfolio allocation in RIG by 19.28% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 21,576K shares representing 2.81% ownership of the company. In it’s prior filing, the firm reported owning 21,382K shares, representing an increase of 0.90%. The firm increased its portfolio allocation in RIG by 2.62% over the last quarter.
Transocean Background Information
(This description is provided by the company.)
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and operates the highest specification floating offshore drilling fleet in the world. Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships.
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