Van Den Berg Management I Inc. lifted its stake in Transocean LTD (NYSE:RIG) by 53.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,505 shares of the offshore drilling services provider’s stock after buying an additional 136,330 shares during the period. Van Den Berg Management I Inc. owned approximately 0.09% of Transocean worth $4,160,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Preferred LLC increased its holdings in shares of Transocean by 1,198.9% in the fourth quarter. Advisors Preferred LLC now owns 9,508 shares of the offshore drilling services provider’s stock worth $102,000 after buying an additional 8,776 shares during the period. Princeton Capital Management LLC bought a new stake in shares of Transocean in the fourth quarter worth about $107,000. Bluestein R H & Co. bought a new stake in shares of Transocean in the fourth quarter worth about $108,000. Suntrust Banks Inc. bought a new stake in shares of Transocean in the fourth quarter worth about $112,000. Finally, IndexIQ Advisors LLC bought a new stake in shares of Transocean in the third quarter worth about $117,000. Hedge funds and other institutional investors own 63.89% of the company’s stock.
Shares of Transocean LTD (NYSE:RIG) traded up $0.25 on Monday, hitting $9.83. The stock had a trading volume of 1,569,823 shares, compared to its average volume of 14,166,172. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.06 and a current ratio of 3.36. Transocean LTD has a 12-month low of $7.20 and a 12-month high of $13.18. The company has a market cap of $4,400.00, a PE ratio of -1.22 and a beta of 1.62.
In related news, Director Frederik Wilhelm Mohn purchased 2,000,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were purchased at an average cost of $9.29 per share, with a total value of $18,580,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David A. Tonnel sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $9.39, for a total value of $84,510.00. Following the completion of the sale, the senior vice president now directly owns 75,349 shares in the company, valued at $707,527.11. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
RIG has been the topic of several recent analyst reports. Jefferies Group raised Transocean from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, January 4th. Royal Bank of Canada set a $11.00 target price on Transocean and gave the stock a “hold” rating in a research note on Sunday, November 12th. Susquehanna Bancshares set a $10.00 target price on Transocean and gave the stock a “hold” rating in a research note on Friday, February 16th. Piper Jaffray Companies set a $11.00 target price on Transocean and gave the stock a “hold” rating in a research note on Thursday, February 15th. Finally, Cowen set a $11.00 target price on Transocean and gave the stock a “hold” rating in a research note on Thursday, January 11th. Nine investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.12.
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.
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