Pallas Capital Advisors LLC Grows Position in Transocean Ltd. (NYSE:RIG)

Pallas Capital Advisors LLC raised its holdings in Transocean Ltd. (NYSE:RIG) by 25.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,332 shares of the offshore drilling services provider’s stock after purchasing an additional 3,127 shares during the period. Pallas Capital Advisors LLC’s holdings in Transocean were worth $57,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RIG. Northwestern Mutual Wealth Management Co. grew its stake in Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after buying an additional 2,693 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Transocean in the third quarter worth $46,000. Atria Investments Inc purchased a new position in shares of Transocean in the third quarter valued at $51,000. Kovitz Investment Group Partners LLC raised its stake in shares of Transocean by 34.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock valued at $62,000 after purchasing an additional 4,027 shares during the period. Finally, Abel Hall LLC purchased a new stake in Transocean during the 3rd quarter worth about $65,000. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. This trade represents a 8.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RIG shares. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Morgan Stanley boosted their price objective 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. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Friday, December 6th. Susquehanna reduced their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Finally, TD Cowen lowered their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.94.

Transocean Trading Up 5.2 %

Shares of RIG stock opened at $4.28 on Thursday. The business has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $4.50. Transocean Ltd. has a 12-month low of $3.40 and a 12-month high of $6.88. 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 market cap of $3.75 billion, a P/E ratio of -5.71 and a beta of 2.73.

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.