Primecap Management Co. CA Boosts Stock Holdings in Transocean Ltd. (NYSE:RIG)

Primecap Management Co. CA grew its position in shares of Transocean Ltd. (NYSE:RIG) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,342,169 shares of the offshore drilling services provider’s stock after acquiring an additional 222,680 shares during the quarter. Primecap Management Co. CA owned 6.43% of Transocean worth $239,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in 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 valued at $25,000 after acquiring an additional 2,693 shares during the period. Nisa Investment Advisors LLC bought a new stake in Transocean in the 2nd quarter valued at about $30,000. SG Americas Securities LLC bought a new stake in Transocean in the 2nd quarter valued at about $64,000. Atria Investments Inc bought a new stake in Transocean in the 3rd quarter valued at about $51,000. Finally, Epiq Partners LLC bought a new stake in shares of Transocean during the second quarter valued at about $86,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RIG shares. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Benchmark cut Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Barclays cut their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Finally, Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Transocean presently has an average rating of “Hold” and an average price target of $6.63.

Transocean Stock Up 0.8 %

RIG stock opened at $4.24 on Thursday. The firm has a fifty day moving average price of $4.32 and a 200 day moving average price of $4.96. Transocean Ltd. has a fifty-two week low of $3.85 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.

Insider Transactions at Transocean

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

About Transocean

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.