Abel Hall LLC Acquires New Position in Transocean Ltd. (NYSE:RIG)

Abel Hall LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 15,351 shares of the offshore drilling services provider’s stock, valued at approximately $65,000.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Transocean by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after purchasing an additional 826,229 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Transocean by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after buying an additional 151,507 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Transocean by 125.9% in the 3rd quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider’s stock valued at $1,764,000 after buying an additional 231,334 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Transocean by 214.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock valued at $2,046,000 after buying an additional 260,710 shares during the period. Finally, Kailix Advisors LLC grew its position in shares of Transocean by 59.9% during the 3rd quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock valued at $28,137,000 after buying an additional 2,481,059 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

RIG has been the subject of a number of research reports. Morgan Stanley lifted their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Susquehanna reduced their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Citigroup lowered Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.25.

Insider Transactions at Transocean

In other Transocean news, Director Perestroika purchased 1,500,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the transaction, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. The trade was a 1.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00. Following the transaction, the executive vice president now owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.54% of the company’s stock.

Transocean Stock Down 3.6 %

Shares of NYSE RIG opened at $4.02 on Monday. The firm’s 50-day simple moving average is $4.30 and its 200 day simple moving average is $4.82. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean Ltd. has a fifty-two week low of $3.85 and a fifty-two week high of $6.88.

Transocean Company Profile

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.