Transocean Ltd. (NYSE:RIG) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in Transocean Ltd. (NYSE:RIG) by 209.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 173,494 shares of the offshore drilling services provider’s stock after buying an additional 117,459 shares during the period. BNP Paribas Financial Markets’ holdings in Transocean were worth $737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position 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 valued at $49,327,000 after acquiring an additional 826,229 shares during the period. International Assets Investment Management LLC lifted its stake 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 valued at $836,000 after purchasing an additional 151,507 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Transocean by 214.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock worth $2,046,000 after purchasing an additional 260,710 shares during the period. Intech Investment Management LLC acquired a new stake in Transocean during the 3rd quarter worth approximately $670,000. Finally, Kailix Advisors LLC raised its holdings in Transocean by 59.9% in the third 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 period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, November 12th. Citigroup downgraded shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Barclays dropped their price target on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, Susquehanna dropped their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.25.

Transocean Trading Down 3.7 %

Shares of Transocean stock opened at $3.94 on Friday. The stock has a market cap of $3.45 billion, a P/E ratio of -5.25 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. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $6.88. The business’s 50 day moving average is $4.27 and its 200-day moving average is $4.79.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction dated Monday, November 18th. The stock was 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. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.16% of the company’s stock.

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.