Mariner Investment Group LLC Purchases New Shares in Transocean Ltd. (NYSE:RIG)

Mariner Investment Group LLC acquired a new position in Transocean Ltd. (NYSE:RIG) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 25,000 shares of the offshore drilling services provider’s stock, valued at approximately $94,000.

Several other hedge funds have also added to or reduced their stakes in RIG. Amalgamated Bank purchased a new position in shares of Transocean in the second quarter valued at $135,000. Sei Investments Co. boosted its holdings in shares of Transocean by 1.6% in the 2nd quarter. Sei Investments Co. now owns 405,000 shares of the offshore drilling services provider’s stock worth $2,167,000 after purchasing an additional 6,520 shares in the last quarter. Bank of Montreal Can boosted its stake in Transocean by 45.9% in the second quarter. Bank of Montreal Can now owns 317,637 shares of the offshore drilling services provider’s stock worth $1,699,000 after buying an additional 99,862 shares in the last quarter. Xponance Inc. bought a new position in shares of Transocean during the 2nd quarter valued at $249,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Transocean by 214.3% during the second quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock valued at $2,046,000 after buying an additional 260,710 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RIG. Morgan Stanley boosted their price objective 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. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a research note on Wednesday, December 18th. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. TD Cowen reduced their target price on Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Evercore ISI cut Transocean from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.94.

Transocean Trading Down 0.4 %

RIG opened at $3.85 on Monday. The stock has a 50-day moving average price of $3.99 and a 200-day moving average price of $4.44. Transocean Ltd. has a 1 year low of $3.40 and a 1 year high of $6.88. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $4.05, for a total transaction of $89,100.00. Following the sale, the executive vice president now directly owns 229,596 shares in the company, valued at approximately $929,863.80. This trade represents a 8.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.16% of the stock is owned by company insiders.

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.