Old West Investment Management LLC Acquires Shares of 95,000 Transocean Ltd. $RIG

Old West Investment Management 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 SEC. The institutional investor bought 95,000 shares of the offshore drilling services provider’s stock, valued at approximately $296,000.

Several other hedge funds also recently made changes to their positions in RIG. Jones Financial Companies Lllp raised its holdings in Transocean by 9.0% in the third quarter. Jones Financial Companies Lllp now owns 35,604 shares of the offshore drilling services provider’s stock worth $114,000 after purchasing an additional 2,932 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Transocean by 3.5% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 100,634 shares of the offshore drilling services provider’s stock worth $314,000 after acquiring an additional 3,367 shares in the last quarter. Moors & Cabot Inc. lifted its position in Transocean by 14.7% during the 2nd quarter. Moors & Cabot Inc. now owns 27,350 shares of the offshore drilling services provider’s stock valued at $71,000 after acquiring an additional 3,500 shares during the period. HBK Sorce Advisory LLC boosted its stake in Transocean by 34.5% during the second quarter. HBK Sorce Advisory LLC now owns 16,134 shares of the offshore drilling services provider’s stock worth $42,000 after acquiring an additional 4,139 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in Transocean by 40.2% in the second quarter. Wedbush Securities Inc. now owns 15,350 shares of the offshore drilling services provider’s stock worth $40,000 after purchasing an additional 4,400 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Transocean

In related news, EVP Roderick James Mackenzie sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $4.48, for a total value of $156,800.00. Following the sale, the executive vice president owned 212,072 shares in the company, valued at approximately $950,082.56. This trade represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Keelan Adamson sold 58,687 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the sale, the chief executive officer owned 1,222,182 shares of the company’s stock, valued at approximately $6,110,910. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 712,970 shares of company stock valued at $3,152,132 over the last quarter. 12.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RIG. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Barclays boosted their target price on Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Citigroup raised their price target on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. Morgan Stanley set a $4.50 price target on shares of Transocean in a research note on Monday, December 15th. Finally, Susquehanna raised their price objective on shares of Transocean from $4.50 to $5.00 and gave the company a “positive” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.55.

Transocean Price Performance

Shares of NYSE:RIG opened at $5.38 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -1.64 and a beta of 1.46. The business has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $3.74. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $5.40.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.