R Squared Ltd Takes Position in Transocean Ltd. (NYSE:RIG)

R Squared Ltd purchased a new position in shares of Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,910 shares of the offshore drilling services provider’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in 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 buying an additional 2,693 shares during the period. Blue Trust Inc. increased its stake in Transocean by 96.2% during the 4th quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after buying an additional 4,826 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in Transocean during the 3rd quarter worth $46,000. Atria Investments Inc purchased a new stake in Transocean during the 3rd quarter worth $51,000. Finally, Pallas Capital Advisors LLC increased its stake in Transocean by 25.6% during 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 during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the business’s 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 sale, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RIG shares. Benchmark reissued a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Friday, December 6th. Finally, TD Cowen dropped their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus target price of $5.94.

Transocean Trading Up 0.1 %

Transocean stock opened at $3.92 on Monday. 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 firm has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $4.38. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -5.22, a PEG ratio of 0.77 and a beta of 2.73. Transocean Ltd. has a 52-week low of $3.40 and a 52-week high of $6.88.

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.