PFG Investments LLC Purchases 11,000 Shares of Transocean Ltd. (NYSE:RIG)

PFG Investments LLC lifted its position in shares of Transocean Ltd. (NYSE:RIG) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 195,087 shares of the offshore drilling services provider’s stock after purchasing an additional 11,000 shares during the period. PFG Investments LLC’s holdings in Transocean were worth $732,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings 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 buying an additional 2,693 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Transocean during the third quarter worth about $46,000. Atria Investments Inc purchased a new stake in Transocean during the third quarter worth about $51,000. Pallas Capital Advisors LLC increased its holdings in Transocean by 25.6% during the fourth 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 last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in Transocean by 34.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after buying an additional 4,027 shares during the last quarter. 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 Transocean stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total transaction of $85,800.00. Following the completion of the sale, the executive vice president now directly owns 310,857 shares in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RIG has been the subject of a number of research analyst reports. Benchmark restated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Friday, December 6th. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Morgan Stanley lifted 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. Finally, TD Cowen reduced their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.94.

Transocean Price Performance

Shares of NYSE:RIG opened at $3.92 on Wednesday. The company has a 50 day moving average of $3.97 and a 200 day moving average of $4.42. The stock has a market cap of $3.44 billion, a P/E ratio of -5.23, a P/E/G ratio of 0.74 and a beta of 2.73. Transocean Ltd. has a 12 month low of $3.40 and a 12 month high of $6.88. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

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.