International Assets Investment Management LLC Increases Position in Transocean Ltd. (NYSE:RIG)

International Assets Investment Management LLC lifted its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 335.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,699 shares of the offshore drilling services provider's stock after buying an additional 151,507 shares during the period. International Assets Investment Management LLC's holdings in Transocean were worth $836,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Transocean by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider's stock valued at $433,208,000 after purchasing an additional 429,950 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Transocean by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider's stock valued at $300,239,000 after purchasing an additional 375,450 shares in the last quarter. Capital World Investors grew its stake in Transocean by 18.8% in the first quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider's stock worth $290,984,000 after purchasing an additional 7,320,672 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Transocean by 19.0% during the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider's stock worth $196,484,000 after purchasing an additional 5,856,414 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Transocean by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider's stock worth $90,192,000 after purchasing an additional 2,606,017 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Transactions at Transocean

In other news, Director Perestroika bought 1,500,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the acquisition, the director now directly owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.54% of the stock is currently owned by corporate insiders.

Transocean Price Performance

Shares of RIG stock traded up $0.04 on Tuesday, reaching $4.46. The company had a trading volume of 19,950,131 shares, compared to its average volume of 18,481,879. Transocean Ltd. has a one year low of $3.85 and a one year high of $6.94. The business's 50-day moving average is $4.33 and its 200 day moving average is $5.07. 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 stock has a market capitalization of $3.90 billion, a PE ratio of -5.93 and a beta of 2.78.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RIG. Barclays decreased their price target on Transocean from $6.00 to $4.50 and set an "equal weight" rating for the company in a research note on Wednesday, October 23rd. Citigroup downgraded shares of Transocean from a "buy" rating to a "neutral" rating in a research report on Thursday, September 12th. Susquehanna decreased their price objective on Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a research report on Friday. Morgan Stanley upped their price target 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, StockNews.com upgraded shares of Transocean to a "sell" rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.63.

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.