Atria Investments Inc Takes Position in Transocean Ltd. (NYSE:RIG)

Atria Investments Inc acquired a new stake in Transocean Ltd. (NYSE:RIG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,982 shares of the offshore drilling services provider’s stock, valued at approximately $51,000.

Several other hedge funds have also added to or reduced their stakes in RIG. Vanguard Group Inc. raised its position 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 worth $433,208,000 after purchasing an additional 429,950 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Transocean by 63.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 365,667 shares of the offshore drilling services provider’s stock worth $2,296,000 after acquiring an additional 141,927 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Transocean by 4.1% during the first quarter. California State Teachers Retirement System now owns 654,772 shares of the offshore drilling services provider’s stock worth $4,112,000 after acquiring an additional 25,537 shares during the last quarter. Castleark Management LLC lifted its position in shares of Transocean by 823.5% in the 1st quarter. Castleark Management LLC now owns 417,600 shares of the offshore drilling services provider’s stock worth $2,623,000 after purchasing an additional 372,380 shares during the period. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of Transocean during the first quarter worth $193,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Perestroika purchased 1,500,000 shares of the firm’s 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 purchase, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This represents a 1.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction that occurred 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 $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 Stock Up 3.0 %

NYSE:RIG opened at $4.47 on Monday. Transocean Ltd. has a 1-year low of $3.85 and a 1-year high of $6.88. The company has a market capitalization of $3.91 billion, a PE ratio of -5.96 and a beta of 2.78. The firm’s 50-day moving average price is $4.34 and its 200-day moving average price is $4.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIG. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Benchmark lowered shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley raised their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Finally, Susquehanna decreased their target price on Transocean from $7.00 to $6.50 and set a “positive” rating for the company 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 issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.63.

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.