Capstone Investment Advisors LLC Takes $73,000 Position in Transocean Ltd. (NYSE:RIG)

Capstone Investment Advisors LLC purchased a new position in Transocean Ltd. (NYSE:RIG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,127 shares of the offshore drilling services provider’s stock, valued at approximately $73,000.

Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised 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 buying an additional 2,693 shares during the period. Nisa Investment Advisors LLC acquired a new position in Transocean during the second quarter worth $30,000. SG Americas Securities LLC acquired a new position in Transocean during the second quarter worth $64,000. Atria Investments Inc purchased a new position in Transocean during the third quarter valued at $51,000. Finally, Epiq Partners LLC purchased a new stake in shares of Transocean during the second quarter worth about $86,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Trading Up 2.3 %

Shares of RIG opened at $4.40 on Monday. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $6.88. The firm has a market capitalization of $3.85 billion, a P/E ratio of -5.87 and a beta of 2.78. The firm has a 50-day moving average price of $4.31 and a 200 day moving average price of $4.89. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

RIG has been the topic of a number of research reports. Citigroup lowered shares of Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Susquehanna reduced their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Barclays decreased their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, 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 report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Transocean has an average rating of “Hold” and a consensus target price of $6.43.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the transaction, the executive vice president now owns 310,857 shares of the company’s stock, valued at $1,333,576.53. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Perestroika acquired 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares in the company, 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. 13.16% of the stock is currently owned by company insiders.

Transocean 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.