Transocean Ltd. (NYSE:RIG) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC raised its position in Transocean Ltd. (NYSE:RIG) by 19.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,247 shares of the offshore drilling services provider’s stock after acquiring an additional 2,963 shares during the quarter. Ballentine Partners LLC’s holdings in Transocean were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Transocean by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after acquiring an additional 680,242 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Transocean by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after purchasing an additional 826,229 shares in the last quarter. Barclays PLC increased its holdings in shares of Transocean by 60.1% during the third quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock valued at $6,902,000 after purchasing an additional 609,681 shares during the period. International Assets Investment Management LLC raised its stake in shares of Transocean by 335.3% during the third 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. Finally, MetLife Investment Management LLC lifted its holdings in Transocean by 125.9% in the third quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider’s stock worth $1,764,000 after purchasing an additional 231,334 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the sale, the executive vice president now owns 229,596 shares in the company, valued at $929,863.80. The trade was a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.16% of the stock is currently owned by corporate insiders.

Transocean Stock Performance

Shares of NYSE RIG opened at $3.85 on Monday. The stock’s fifty day simple moving average is $3.99 and its 200 day simple moving average is $4.44. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -5.13, a PEG ratio of 0.74 and a beta of 2.73. 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 52-week low of $3.40 and a 52-week high of $6.88.

Wall Street Analyst Weigh In

Several research firms have commented on RIG. Morgan Stanley raised their target price on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a report on Wednesday, December 18th. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned 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 target price 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.