Transocean Ltd. (NYSE:RIG) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in Transocean Ltd. (NYSE:RIG) by 334.2% during the third quarter, HoldingsChannel.com reports. The fund owned 1,660,176 shares of the offshore drilling services provider’s stock after acquiring an additional 1,277,814 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Transocean were worth $7,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RIG. Cetera Advisors LLC grew its holdings in shares of Transocean by 185.0% in the 1st quarter. Cetera Advisors LLC now owns 76,036 shares of the offshore drilling services provider’s stock worth $478,000 after acquiring an additional 49,356 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Transocean in the 2nd quarter valued at approximately $108,000. Simplicity Wealth LLC purchased a new stake in Transocean in the 2nd quarter valued at approximately $160,000. SG Americas Securities LLC purchased a new stake in Transocean in the 2nd quarter valued at approximately $64,000. Finally, Mirador Capital Partners LP lifted its stake in Transocean by 9.8% in the 2nd quarter. Mirador Capital Partners LP now owns 155,855 shares of the offshore drilling services provider’s stock valued at $834,000 after buying an additional 13,887 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Trading Down 3.4 %

RIG stock opened at $4.26 on Thursday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -5.89 and a beta of 2.75. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $4.86. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $6.88.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00. Following the transaction, the executive vice president now owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Perestroika purchased 1,500,000 shares of Transocean stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the transaction, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The trade was a 1.67 % increase in their position. The disclosure for this purchase can be found here. 12.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RIG has been the topic of a number of recent research reports. Barclays reduced their target price on 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 reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley increased their price target on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Finally, Citigroup lowered Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.43.

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.