Orion Portfolio Solutions LLC Acquires Shares of 10,824 Transocean Ltd. (NYSE:RIG)

Orion Portfolio Solutions LLC bought a new position in Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,824 shares of the offshore drilling services provider’s stock, valued at approximately $46,000.

Other institutional investors have also modified their holdings of the company. XTX Topco Ltd grew its stake in Transocean by 555.6% in the third quarter. XTX Topco Ltd now owns 652,578 shares of the offshore drilling services provider’s stock worth $2,773,000 after purchasing an additional 553,033 shares in the last quarter. Castleark Management LLC grew its position in shares of Transocean by 225.6% in the 3rd quarter. Castleark Management LLC now owns 679,750 shares of the offshore drilling services provider’s stock worth $2,889,000 after acquiring an additional 470,950 shares in the last quarter. Kovitz Investment Group Partners LLC increased 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 valued at $62,000 after acquiring an additional 4,027 shares during the last quarter. State Street Corp raised its position in shares of Transocean by 11.0% during the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Transocean by 3.8% during the third quarter. Stifel Financial Corp now owns 152,149 shares of the offshore drilling services provider’s stock worth $647,000 after purchasing an additional 5,636 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.16% of the company’s stock.

Analysts Set New Price Targets

RIG has been the topic of a number of recent research reports. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a report on Wednesday. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.25.

Transocean Trading Down 0.6 %

NYSE:RIG opened at $3.53 on Friday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -4.71 and a beta of 2.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean Ltd. has a 1 year low of $3.48 and a 1 year high of $6.88. The business has a fifty day moving average of $4.19 and a 200-day moving average of $4.71.

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.