Transocean Ltd. (NYSE:RIG) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in Transocean Ltd. (NYSE:RIG - Free Report) by 23.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,497,993 shares of the offshore drilling services provider's stock after selling 3,551,775 shares during the period. Van ECK Associates Corp owned 1.31% of Transocean worth $47,257,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RIG. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 purchasing an additional 2,693 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Transocean during the 2nd quarter valued at approximately $30,000. Fiducient Advisors LLC bought a new position in Transocean during the first quarter worth $63,000. SG Americas Securities LLC acquired a new position in shares of Transocean in the 2nd quarter valued at about $64,000. Finally, Meeder Advisory Services Inc. acquired a new position in Transocean in the first quarter valued at approximately $90,000. 67.73% of the stock is currently owned by institutional investors.

Transocean Price Performance

RIG traded up $0.17 on Monday, hitting $4.41. 19,799,939 shares of the company's stock were exchanged, compared to its average volume of 18,474,980. The company has a current ratio of 1.64, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $4.34 and a 200-day moving average price of $5.07. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -5.88 and a beta of 2.78. Transocean Ltd. has a fifty-two week low of $3.85 and a fifty-two week high of $6.94.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. DNB Markets upgraded Transocean from a "hold" rating to a "buy" rating in a report on Tuesday, September 3rd. Citigroup downgraded shares of Transocean from a "buy" rating to a "neutral" rating in a research note on Thursday, September 12th. Morgan Stanley raised their price target on Transocean from $5.00 to $6.00 and gave the company an "equal weight" rating in a report on Thursday, October 3rd. Barclays dropped their target price on Transocean from $6.00 to $4.50 and set an "equal weight" rating for the company in a research report on Wednesday, October 23rd. Finally, Susquehanna lowered their price target on shares of Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.63.

Insider Buying and Selling

In related news, Director Perestroika purchased 1,500,000 shares of the business's stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the acquisition, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.16% of the stock is currently owned by company insiders.

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.