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

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

A number of other hedge funds have also recently modified their holdings of RIG. Janney Montgomery Scott LLC grew its holdings in Transocean by 1,748.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 245,861 shares of the offshore drilling services provider’s stock worth $1,544,000 after acquiring an additional 232,561 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Transocean during the 1st quarter worth about $197,000. Empowered Funds LLC raised its position in Transocean by 20.6% during the first quarter. Empowered Funds LLC now owns 149,785 shares of the offshore drilling services provider’s stock worth $941,000 after acquiring an additional 25,555 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Transocean by 8.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock worth $140,000 after purchasing an additional 1,767 shares during the last quarter. Finally, Lisanti Capital Growth LLC grew its position in shares of Transocean by 685.6% in the first quarter. Lisanti Capital Growth LLC now owns 713,390 shares of the offshore drilling services provider’s stock valued at $4,480,000 after purchasing an additional 622,580 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Performance

NYSE RIG opened at $4.41 on Tuesday. The business’s 50-day moving average price is $4.34 and its 200 day moving average price is $5.07. Transocean Ltd. has a twelve month low of $3.85 and a twelve month high of $6.94. The company has a market capitalization of $3.86 billion, a PE ratio of -5.88 and a beta of 2.78. The company has a current ratio of 1.64, a quick ratio of 1.08 and a debt-to-equity ratio of 0.64.

Insider Buying and Selling

In other news, Director Perestroika purchased 1,500,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RIG shares. Barclays lowered their price target on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. StockNews.com upgraded Transocean to a “sell” rating in a research note on Thursday, October 10th. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Benchmark lowered Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Susquehanna lowered their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.63.

Transocean Company Profile

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.