Pallas Capital Advisors LLC Increases Stake in Transocean Ltd. (NYSE:RIG)

Pallas Capital Advisors LLC lifted its position in Transocean Ltd. (NYSE:RIG) by 25.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,332 shares of the offshore drilling services provider’s stock after acquiring an additional 3,127 shares during the period. Pallas Capital Advisors LLC’s holdings in Transocean were worth $57,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after buying an additional 2,693 shares during the period. Orion Portfolio Solutions LLC bought a new position in shares of Transocean during the third quarter valued at about $46,000. Atria Investments Inc purchased a new stake in shares of Transocean during the third quarter worth about $51,000. Kovitz Investment Group Partners LLC grew its stake in shares of Transocean by 34.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after purchasing an additional 4,027 shares during the last quarter. Finally, Abel Hall LLC purchased a new position in Transocean during the 3rd quarter valued at about $65,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the transaction, the executive vice president now owns 229,596 shares in the company, valued at approximately $929,863.80. This represents a 8.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.16% of the company’s stock.

Transocean Price Performance

Shares of NYSE:RIG opened at $4.28 on Thursday. The company has a market capitalization of $3.75 billion, a PE ratio of -5.71 and a beta of 2.73. The business has a fifty day moving average price of $4.06 and a 200-day moving average price of $4.50. Transocean Ltd. has a 1-year low of $3.40 and a 1-year high of $6.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Analyst Ratings Changes

Several research firms have weighed in on RIG. Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $6.00 to $5.00 in a report on Wednesday. Morgan Stanley raised their price target on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a report on Wednesday, December 18th. Susquehanna cut their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Finally, Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.94.

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.