FNY Investment Advisers LLC Takes $150,000 Position in Transocean Ltd. (NYSE:RIG)

FNY Investment Advisers LLC purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) during the 4th quarter, Holdings Channel reports. The fund purchased 40,000 shares of the offshore drilling services provider’s stock, valued at approximately $150,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Transocean by 4.1% during the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock worth $73,307,000 after buying an additional 680,242 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Transocean by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock valued at $49,327,000 after acquiring an additional 826,229 shares in the last quarter. Barclays PLC grew its position in Transocean by 60.1% during the 3rd quarter. Barclays PLC now owns 1,623,924 shares of the offshore drilling services provider’s stock worth $6,902,000 after acquiring an additional 609,681 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Transocean by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after purchasing an additional 151,507 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in Transocean by 125.9% in the third quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider’s stock valued at $1,764,000 after purchasing an additional 231,334 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on RIG. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Susquehanna cut their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. 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 research report on Thursday, October 3rd. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Finally, TD Cowen decreased their price objective on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.17.

Transocean Trading Down 0.5 %

RIG opened at $4.07 on Wednesday. The stock has a market cap of $3.56 billion, a PE ratio of -5.43 and a beta of 2.73. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a twelve month low of $3.40 and a twelve month high of $6.88. The company has a fifty day moving average of $4.07 and a 200-day moving average of $4.51.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 229,596 shares in the company, valued at approximately $929,863.80. This represents a 8.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.16% of the company’s stock.

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.