On April 6, 2023 at 10:03:14 ET an unusually large
$193.80K block of Put contracts in Transocean
(RIG) was sold,
with a strike price of $7.00 / share, expiring in 470 days (on July 19, 2024).
Fintel tracks all large options trades, and the premium spent on this trade was 1.14 sigmas above the mean, placing it in the 88.50 percentile of all recent large trades made in RIG options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 9.39% Upside
As of April 6, 2023,
the average one-year price target for Transocean is $7.03.
The forecasts range from a low of $4.04 to a high of $12.60.
The average price target represents an increase of 9.39% from its latest reported closing price of $6.43.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Transocean
is $3,123MM, an increase of 21.28%.
The projected annual non-GAAP EPS
is -$0.18.
What is the Fund Sentiment?
There are 532 funds or institutions reporting positions in Transocean.
This is an increase
of
43
owner(s) or 8.79% in the last quarter.
Average portfolio weight of all funds dedicated to RIG is 0.20%,
an increase
of 6.54%.
Total shares owned by institutions increased
in the last three months by 16.62% to 537,162K shares.
The put/call ratio of RIG is 0.71, indicating a
bullish
outlook.
What are Large Shareholders Doing?
Primecap Management
holds 46,564K shares
representing 6.36% ownership of the company.
In it’s prior filing, the firm reported owning 46,953K shares, representing
a decrease
of 0.83%.
The firm
decreased
its portfolio allocation in RIG by 99.83% over the last quarter.
D. E. Shaw &
holds 34,903K shares
representing 4.77% ownership of the company.
In it’s prior filing, the firm reported owning 23,724K shares, representing
an increase
of 32.03%.
The firm
increased
its portfolio allocation in RIG by 91.59% over the last quarter.
Contrarius Investment Management
holds 31,021K shares
representing 4.24% ownership of the company.
In it’s prior filing, the firm reported owning 27,698K shares, representing
an increase
of 10.71%.
The firm
decreased
its portfolio allocation in RIG by 99.81% over the last quarter.
Van Eck Associates
holds 25,131K shares
representing 3.43% ownership of the company.
In it’s prior filing, the firm reported owning 25,359K shares, representing
a decrease
of 0.91%.
The firm
increased
its portfolio allocation in RIG by 58.85% over the last quarter.
OIH – VanEck Vectors Oil Services ETF
holds 24,836K shares
representing 3.39% ownership of the company.
In it’s prior filing, the firm reported owning 25,782K shares, representing
a decrease
of 3.81%.
The firm
increased
its portfolio allocation in RIG by 34.49% 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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
