Oppenheimer Asset Management Inc. Increases Holdings in Transocean Ltd. (NYSE:RIG)

Oppenheimer Asset Management Inc. grew its stake in shares of Transocean Ltd. (NYSE:RIG) by 10.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,170 shares of the offshore drilling services provider’s stock after acquiring an additional 2,469 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Transocean were worth $107,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Transocean by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock valued at $433,208,000 after purchasing an additional 429,950 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Transocean by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider’s stock worth $300,239,000 after purchasing an additional 375,450 shares during the last quarter. Capital World Investors raised its stake in Transocean by 18.8% in the 1st quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after purchasing an additional 7,320,672 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after purchasing an additional 5,856,414 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Transocean by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock worth $90,192,000 after acquiring an additional 2,606,017 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

Several analysts recently weighed in on RIG shares. Susquehanna dropped their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley upped their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Finally, Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.63.

Transocean Stock Up 0.8 %

Shares of Transocean stock opened at $4.24 on Thursday. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -5.65 and a beta of 2.78. Transocean Ltd. has a twelve month low of $3.85 and a twelve month high of $6.88. The company has a fifty day moving average price of $4.32 and a 200 day moving average price of $4.96. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Transocean 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.