Quantinno Capital Management LP Invests $68,000 in Transocean Ltd. (NYSE:RIG)

Quantinno Capital Management LP purchased a new position in shares of Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,016 shares of the offshore drilling services provider’s stock, valued at approximately $68,000.

A number of other institutional investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its stake in shares of Transocean by 10.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock valued at $107,000 after buying an additional 2,469 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares during the period. CWM LLC boosted its holdings in shares of Transocean by 36.1% during the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after purchasing an additional 4,529 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Transocean by 19.8% in the second quarter. Verdence Capital Advisors LLC now owns 30,235 shares of the offshore drilling services provider’s stock valued at $162,000 after purchasing an additional 5,000 shares during the period. Finally, nVerses Capital LLC increased 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 valued at $255,000 after purchasing an additional 5,100 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RIG shares. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Barclays cut 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. Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Transocean has a consensus rating of “Hold” and an average price target of $6.25.

Transocean Stock Performance

Shares of RIG stock opened at $3.68 on Wednesday. The company’s fifty day simple moving average is $4.22 and its 200-day simple moving average is $4.72. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 52 week low of $3.54 and a 52 week high of $6.88. The company has a market cap of $3.22 billion, a PE ratio of -4.91 and a beta of 2.75.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.16% of the stock is currently owned by insiders.

Transocean Company 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.