2 weeks Ago By ABMN Staff
KLP Kapitalforvaltning AS acquired a new position in Transocean Ltd. ( NYSE:RIG – Free Report ) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 145,800 shares of the offshore drilling services provider’s stock, valued at approximately $547,000.
Several other hedge funds also recently made changes to their positions in the business. Ballentine Partners LLC grew its position in Transocean by 19.4% in the fourth quarter.
Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock worth $68,000 after buying an additional 2,963 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Transocean by 25.6% during the 4th quarter.
Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after acquiring an additional 3,127 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Transocean by 34.0% in the 3rd quarter.
Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after acquiring an additional 4,027 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Transocean by 4.
2% during the fourth quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider’s stock worth $401,000 after purchasing an additional 4,285 shares during the period.
Finally, Blue Trust Inc. lifted its holdings in shares of Transocean by 96.2% during the fourth quarter.
Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares during the last quarter. Institutional investors and hedge funds own 67.
73% of the company’s stock. Transocean Trading Down 14.1 % Shares of NYSE:RIG opened at $2.
72 on Friday. The firm has a fifty day moving average of $3.34 and a two-hundred day moving average of $3.
87. The company has a quick ratio of 1.34, a current ratio of 1.
47 and a debt-to-equity ratio of 0.60. Transocean Ltd.
has a 12-month low of $2.55 and a 12-month high of $6.88.
The firm has a market capitalization of $2.40 billion, a P/E ratio of -3.72, a price-to-earnings-growth ratio of 0.
86 and a beta of 2.72. Analyst Ratings Changes Several analysts have issued reports on the company.
Barclays cut their price objective on Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th.
Morgan Stanley cut their price target on shares of Transocean from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th.
TD Cowen decreased their price objective 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.
Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and cut their target price for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th.
Finally, SEB Equity Research set a $2.80 target price on Transocean in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company.
According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.03.
View Our Latest Stock Report on RIG Insider Activity In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.
00. Following the transaction, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20.
This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link .
12.54% of the stock is owned by corporate insiders. Transocean 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.
Recommended Stories Want to see what other hedge funds are holding RIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Transocean Ltd. ( NYSE:RIG – Free Report ).
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