Transocean Ltd. (NYSE:RIG) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Transocean Ltd. (NYSE:RIG) by 33.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,393,873 shares of the offshore drilling services provider’s stock after purchasing an additional 3,895,880 shares during the quarter. Van ECK Associates Corp owned about 1.76% of Transocean worth $57,727,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Savant Capital LLC acquired a new stake in Transocean in the fourth quarter worth about $55,000. Stephens Inc. AR acquired a new stake in Transocean in the 4th quarter valued at about $56,000. Adero Partners LLC acquired a new stake in Transocean in the 4th quarter valued at about $38,000. Stratos Wealth Partners LTD. acquired a new stake in Transocean in the 4th quarter valued at about $40,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in Transocean in the 4th quarter valued at about $71,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the transaction, the executive vice president now owns 313,072 shares in the company, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 64,000 shares of company stock worth $259,600 in the last 90 days. Company insiders own 13.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RIG shares. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Susquehanna cut 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. TD Cowen reduced their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Transocean has an average rating of “Hold” and an average price target of $5.94.

Transocean Price Performance

Shares of RIG opened at $3.64 on Friday. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -4.85, a P/E/G ratio of 0.75 and a beta of 2.70. Transocean Ltd. has a fifty-two week low of $3.40 and a fifty-two week high of $6.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The business’s 50-day moving average is $3.85 and its 200-day moving average is $4.29.

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.