The Manufacturers Life Insurance Company Grows Stock Holdings in Transocean Ltd. (NYSE:RIG)

The Manufacturers Life Insurance Company lifted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 334.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,660,176 shares of the offshore drilling services provider’s stock after purchasing an additional 1,277,814 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.19% of Transocean worth $7,056,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in RIG. Charles Schwab Investment Management Inc. grew its stake in shares of Transocean by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after acquiring an additional 826,229 shares in the last quarter. International Assets Investment Management LLC grew its stake in Transocean by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after purchasing an additional 151,507 shares in the last quarter. Kailix Advisors LLC increased its holdings in Transocean by 59.9% during the 3rd 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 period. Simplicity Wealth LLC acquired a new stake in Transocean in the 2nd quarter valued at about $160,000. Finally, Glenorchy Capital Ltd boosted its stake in shares of Transocean by 34.0% in the 3rd quarter. Glenorchy Capital Ltd now owns 586,219 shares of the offshore drilling services provider’s stock valued at $2,491,000 after buying an additional 148,755 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Trading Down 3.4 %

NYSE RIG opened at $4.26 on Thursday. The firm’s fifty day moving average is $4.31 and its two-hundred day moving average is $4.86. Transocean Ltd. has a one year low of $3.85 and a one year high of $6.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The firm has a market cap of $3.73 billion, a PE ratio of -5.89 and a beta of 2.75.

Insider Buying and Selling at Transocean

In other news, Director Perestroika bought 1,500,000 shares of Transocean 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 purchase, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. The trade was a 1.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction dated 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 owns 310,857 shares in the company, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Finally, Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.43.

Transocean 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.