Client 1ST Advisory Group LLC Makes New Investment in Transocean Ltd. (NYSE:RIG)

Client 1ST Advisory Group LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the 4th quarter, Holdings Channel.com reports. The fund bought 51,559 shares of the offshore drilling services provider’s stock, valued at approximately $193,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $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 worth $46,000. Atria Investments Inc acquired a new stake in shares of Transocean in the 3rd quarter valued at $51,000. Pallas Capital Advisors LLC increased its stake in shares of Transocean by 25.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock valued at $57,000 after purchasing an additional 3,127 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings 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 worth $62,000 after buying an additional 4,027 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Stock Performance

Shares of Transocean stock opened at $4.06 on Monday. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -5.41, a P/E/G ratio of 0.67 and a beta of 2.73. Transocean Ltd. has a twelve month low of $3.40 and a twelve month high of $6.88. The company’s fifty day moving average is $4.03 and its 200 day moving average is $4.48. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the transaction, the executive vice president now directly owns 229,596 shares in the company, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.54% of the company’s stock.

Analyst Upgrades and Downgrades

RIG has been the topic of several research analyst reports. StockNews.com raised Transocean to a “sell” rating in a research note on Tuesday, November 12th. Benchmark restated a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Susquehanna lowered their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Morgan Stanley raised their target price on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Finally, TD Cowen lowered their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.