KBC Group NV Boosts Stock Position in Transocean Ltd. (NYSE:RIG)

KBC Group NV raised its holdings in Transocean Ltd. (NYSE:RIG) by 31.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,295 shares of the offshore drilling services provider’s stock after buying an additional 7,510 shares during the quarter. KBC Group NV’s holdings in Transocean were worth $117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after buying an additional 2,693 shares during the period. Blue Trust Inc. boosted its stake in shares of Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in Transocean during the 3rd quarter valued at $46,000. Atria Investments Inc purchased a new stake in Transocean during the 3rd quarter worth $51,000. Finally, Pallas Capital Advisors LLC lifted its holdings in Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after buying an additional 3,127 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Down 4.4 %

Shares of Transocean stock opened at $3.59 on Friday. The stock has a 50-day simple moving average of $3.89 and a 200-day simple moving average of $4.34. Transocean Ltd. has a 52-week low of $3.40 and a 52-week high of $6.88. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -4.78, a P/E/G ratio of 0.79 and a beta of 2.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $4.05, for a total value of $89,100.00. Following the completion of the sale, the executive vice president now owns 229,596 shares of the company’s stock, valued at $929,863.80. The trade was a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RIG shares. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Susquehanna lowered 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. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. TD Cowen dropped their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target for the company in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.94.

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.