BNP Paribas Financial Markets Purchases 117,459 Shares of Transocean Ltd. (NYSE:RIG)

BNP Paribas Financial Markets lifted its position in Transocean Ltd. (NYSE:RIG) by 209.6% in the 3rd quarter, Holdings Channel reports. The fund owned 173,494 shares of the offshore drilling services provider’s stock after acquiring an additional 117,459 shares during the quarter. BNP Paribas Financial Markets’ holdings in Transocean were worth $737,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after acquiring an additional 2,693 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in Transocean during the 2nd quarter valued at approximately $30,000. Atria Investments Inc purchased a new position in Transocean during the third quarter valued at $51,000. SG Americas Securities LLC bought a new stake in Transocean in the second quarter worth $64,000. Finally, CWM LLC grew its stake in shares of Transocean by 36.1% in the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after acquiring an additional 4,529 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 310,857 shares in the company, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.16% of the company’s stock.

Transocean Stock Down 3.7 %

Transocean stock opened at $3.94 on Friday. Transocean Ltd. has a twelve month low of $3.85 and a twelve month high of $6.88. The business has a fifty day moving average of $4.27 and a two-hundred day moving average of $4.79. The firm has a market cap of $3.45 billion, a P/E ratio of -5.25 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.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RIG shares. Barclays dropped 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. Morgan Stanley upped their target price on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Benchmark restated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus target price of $6.25.

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.