Intech Investment Management LLC Takes Position in Transocean Ltd. (NYSE:RIG)

Intech Investment Management LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 157,754 shares of the offshore drilling services provider’s stock, valued at approximately $670,000.

A number of other large investors have also made changes to their positions in the stock. California State Teachers Retirement System raised its position in shares of Transocean by 4.1% during the 1st quarter. California State Teachers Retirement System now owns 654,772 shares of the offshore drilling services provider’s stock worth $4,112,000 after purchasing an additional 25,537 shares during the last quarter. Cetera Advisors LLC raised its holdings in shares of Transocean by 185.0% in the first quarter. Cetera Advisors LLC now owns 76,036 shares of the offshore drilling services provider’s stock worth $478,000 after acquiring an additional 49,356 shares during the last quarter. Epiq Partners LLC purchased a new stake in shares of Transocean in the second quarter valued at $86,000. Valeo Financial Advisors LLC acquired a new stake in shares of Transocean during the second quarter valued at $108,000. Finally, Simplicity Wealth LLC purchased a new stake in Transocean during the 2nd quarter worth about $160,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

RIG has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Citigroup lowered Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley raised their price target on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.43.

Insider Transactions at Transocean

In related news, Director Perestroika acquired 1,500,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the transaction, the director now 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.16% of the stock is owned by insiders.

Transocean Stock Up 2.3 %

Shares of RIG stock opened at $4.40 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The stock has a market cap of $3.85 billion, a PE ratio of -5.87 and a beta of 2.78. The business’s fifty day moving average is $4.31 and its 200-day moving average is $4.90. Transocean Ltd. has a 1 year low of $3.85 and a 1 year high of $6.88.

About Transocean

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.