Cerity Partners LLC Boosts Stock Holdings in Transocean Ltd. (NYSE:RIG)

Cerity Partners LLC raised its position in shares of Transocean Ltd. (NYSE:RIG) by 20.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,114 shares of the offshore drilling services provider’s stock after purchasing an additional 16,812 shares during the period. Cerity Partners LLC’s holdings in Transocean were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after acquiring an additional 2,693 shares during the period. Nisa Investment Advisors LLC purchased a new stake in Transocean during the second quarter valued at about $30,000. Atria Investments Inc bought a new position in Transocean during the third quarter worth about $51,000. SG Americas Securities LLC purchased a new position in shares of Transocean in the second quarter worth about $64,000. Finally, CWM LLC raised its position in shares of Transocean by 36.1% in the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock valued at $73,000 after purchasing an additional 4,529 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RIG. Citigroup downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Barclays cut their price target on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upgraded 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. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Transocean currently has a consensus rating of “Hold” and a consensus target price of $6.25.

Transocean Price Performance

Transocean stock opened at $4.02 on Monday. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of -5.36 and a beta of 2.75. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $4.30 and a 200 day simple moving average of $4.82. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $6.88.

Insider Activity

In related news, Director Perestroika bought 1,500,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 1.67 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction 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. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 13.16% of the company’s stock.

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.