PFG Investments LLC Acquires 11,000 Shares of Transocean Ltd. (NYSE:RIG)

PFG Investments LLC lifted its holdings in Transocean Ltd. (NYSE:RIG) by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 195,087 shares of the offshore drilling services provider’s stock after acquiring an additional 11,000 shares during the quarter. PFG Investments LLC’s holdings in Transocean were worth $732,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RIG. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Transocean by 138.8% in 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 last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Transocean in the 3rd quarter worth approximately $46,000. Atria Investments Inc bought a new stake in shares of Transocean in the 3rd quarter worth approximately $51,000. Pallas Capital Advisors LLC lifted its holdings 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 worth $57,000 after acquiring an additional 3,127 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted 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 worth $62,000 after acquiring an additional 4,027 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Transocean Stock Up 2.4 %

Shares of NYSE RIG opened at $3.92 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 12 month low of $3.40 and a 12 month high of $6.88. The firm has a market capitalization of $3.44 billion, a PE ratio of -5.23, a price-to-earnings-growth ratio of 0.74 and a beta of 2.73. The firm has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $4.42.

Analysts Set New Price Targets

RIG has been the subject of a number of recent research reports. Benchmark restated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Morgan Stanley upped their price target on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.94.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.54% of the company’s stock.

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.