Capstone Investment Advisors LLC Buys New Position in Transocean Ltd. (NYSE:RIG)

Capstone Investment Advisors LLC purchased a new position in shares of Transocean Ltd. (NYSE:RIG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,127 shares of the offshore drilling services provider’s stock, valued at approximately $73,000.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in Transocean by 4.1% during the 1st quarter. California State Teachers Retirement System now owns 654,772 shares of the offshore drilling services provider’s stock worth $4,112,000 after buying an additional 25,537 shares during the period. Cetera Advisors LLC raised its stake in shares of Transocean by 185.0% in the first quarter. Cetera Advisors LLC now owns 76,036 shares of the offshore drilling services provider’s stock valued at $478,000 after acquiring an additional 49,356 shares in the last quarter. Epiq Partners LLC acquired a new stake in shares of Transocean in the second quarter valued at $86,000. Valeo Financial Advisors LLC acquired a new position in Transocean during the 2nd quarter worth $108,000. Finally, Simplicity Wealth LLC purchased a new stake in Transocean during the 2nd quarter worth about $160,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In other Transocean news, Director Perestroika bought 1,500,000 shares of Transocean stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the acquisition, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This represents a 1.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the transaction, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.16% of the company’s stock.

Transocean Price Performance

Shares of RIG opened at $4.40 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. Transocean Ltd. has a 1-year low of $3.85 and a 1-year high of $6.88. The stock has a market cap of $3.85 billion, a PE ratio of -5.87 and a beta of 2.78. The firm has a fifty day moving average price of $4.31 and a 200 day moving average price of $4.89.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RIG. StockNews.com upgraded Transocean to a “sell” rating in a research note on Tuesday, November 12th. Susquehanna lowered their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Barclays dropped their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Benchmark cut Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus target price of $6.43.

Transocean Company 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.