International Assets Investment Management LLC Raises Stock Holdings in Transocean Ltd. (NYSE:RIG)

International Assets Investment Management LLC grew its holdings in shares of Transocean Ltd. (NYSE:RIG) by 335.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 196,699 shares of the offshore drilling services provider’s stock after acquiring an additional 151,507 shares during the quarter. International Assets Investment Management LLC’s holdings in Transocean were worth $836,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Glenorchy Capital Ltd increased its stake in Transocean by 34.0% in the 3rd quarter. Glenorchy Capital Ltd now owns 586,219 shares of the offshore drilling services provider’s stock worth $2,491,000 after purchasing an additional 148,755 shares during the period. Moss Adams Wealth Advisors LLC bought a new stake in shares of Transocean during the third quarter valued at approximately $132,000. nVerses Capital LLC grew its stake in Transocean by 9.3% in the third quarter. nVerses Capital LLC now owns 60,100 shares of the offshore drilling services provider’s stock worth $255,000 after purchasing an additional 5,100 shares during the period. Vontobel Holding Ltd. raised its holdings in Transocean by 35.1% in the third quarter. Vontobel Holding Ltd. now owns 135,071 shares of the offshore drilling services provider’s stock worth $574,000 after purchasing an additional 35,071 shares in the last quarter. Finally, Creative Planning lifted its position in Transocean by 63.0% during the third quarter. Creative Planning now owns 290,993 shares of the offshore drilling services provider’s stock valued at $1,237,000 after buying an additional 112,512 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Transocean Price Performance

NYSE RIG opened at $4.41 on Tuesday. Transocean Ltd. has a one year low of $3.85 and a one year high of $6.94. The stock has a 50-day moving average of $4.34 and a 200 day moving average of $5.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.64. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -5.88 and a beta of 2.78.

Analysts Set New Price Targets

Several research analysts recently issued reports on RIG shares. Morgan Stanley increased 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. Barclays lowered their target price on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. 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. Benchmark downgraded Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded Transocean to a “sell” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.63.

Insider Transactions at Transocean

In other news, Director Perestroika purchased 1,500,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.16% of the company’s stock.

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.