Arkadios Wealth Advisors boosted its holdings in shares of Transocean Ltd. (NYSE:RIG – Free Report) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 148,083 shares of the offshore drilling services provider’s stock after buying an additional 11,963 shares during the quarter. Arkadios Wealth Advisors’ holdings in Transocean were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 acquiring an additional 2,693 shares during the period. Orion Portfolio Solutions LLC bought a new stake in Transocean during the third quarter valued at about $46,000. Atria Investments Inc purchased a new stake in Transocean in the third quarter worth about $51,000. Pallas Capital Advisors LLC raised its stake in shares of Transocean by 25.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after buying an additional 3,127 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Transocean by 34.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock valued at $62,000 after buying an additional 4,027 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
RIG has been the topic of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Morgan Stanley lifted their target price on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research note on Friday, December 6th. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective on the stock in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Transocean presently has an average rating of “Hold” and a consensus target price of $5.94.
Insider Activity at Transocean
In related news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.54% of the stock is currently owned by insiders.
Transocean Stock Performance
NYSE RIG opened at $3.96 on Wednesday. The stock has a market capitalization of $3.46 billion, a PE ratio of -5.27, a P/E/G ratio of 0.78 and a beta of 2.73. Transocean Ltd. has a 1-year low of $3.40 and a 1-year high of $6.88. The business has a 50 day simple moving average of $4.02 and a two-hundred day simple moving average of $4.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.
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.
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