Exchange Traded Concepts LLC decreased its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 71.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,907 shares of the offshore drilling services provider's stock after selling 78,468 shares during the period. Exchange Traded Concepts LLC's holdings in Transocean were worth $120,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in RIG. Pilgrim Global Advisors LLC bought a new stake in Transocean in the third quarter worth about $77,473,000. Kailix Advisors LLC lifted its stake in Transocean by 59.9% in the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider's stock worth $28,137,000 after purchasing an additional 2,481,059 shares during the last quarter. Point72 Europe London LLP bought a new stake in shares of Transocean during the third quarter valued at approximately $8,935,000. State Street Corp raised its stake in shares of Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider's stock valued at $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Transocean by 334.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,660,176 shares of the offshore drilling services provider's stock valued at $7,056,000 after acquiring an additional 1,277,814 shares in the last quarter. Institutional investors own 67.73% of the company's stock.
Transocean Stock Up 2.2 %
Shares of RIG stock traded up $0.09 during trading hours on Tuesday, reaching $3.88. 32,514,887 shares of the company's stock were exchanged, compared to its average volume of 26,214,133. The stock's 50 day moving average is $3.93 and its 200-day moving average is $4.37. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -5.17, a P/E/G ratio of 0.79 and a beta of 2.71. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a fifty-two week low of $3.40 and a fifty-two week high of $6.88.
Insider Transactions 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 transaction of $85,800.00. Following the transaction, the executive vice president now directly owns 310,857 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.54% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Barclays raised shares of Transocean from an "equal weight" rating to an "overweight" rating and set a $4.50 price target for the company in a research note on Wednesday, December 18th. TD Cowen decreased their price target 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. Susquehanna decreased their price target on shares of Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a research note on Friday, November 1st. Benchmark reaffirmed a "hold" rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of Transocean to a "sell" rating in a research note on Tuesday, November 12th. Two 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, Transocean currently has a consensus rating of "Hold" and a consensus target price of $5.94.
Check Out Our Latest Analysis on RIG
Transocean Company Profile
(
Free Report)
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.
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