Gabelli Funds LLC acquired a new stake in shares of Transocean LTD (NYSE:RIG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,273 shares of the offshore drilling services provider’s stock, valued at approximately $266,000.

A number of other hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in shares of Transocean by 31.1% in the third quarter. Nisa Investment Advisors LLC now owns 107,891 shares of the offshore drilling services provider’s stock worth $1,505,000 after acquiring an additional 25,591 shares during the period. MinichMacGregor Wealth Management LLC raised its position in shares of Transocean by 100.0% in the third quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock worth $141,000 after acquiring an additional 5,000 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Transocean by 74.5% in the third quarter. Cornerstone Wealth Management LLC now owns 98,195 shares of the offshore drilling services provider’s stock worth $9,342,000 after acquiring an additional 41,919 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Transocean in the third quarter worth about $7,378,000. Finally, First Trust Advisors LP acquired a new position in shares of Transocean in the third quarter worth about $473,000. 81.88% of the stock is owned by institutional investors.

In other news, Director Vanessa C. L. Chang purchased 6,000 shares of the company’s stock in a transaction dated Monday, December 10th. The stock was acquired at an average price of $8.00 per share, with a total value of $48,000.00. Following the purchase, the director now directly owns 9,700 shares in the company, valued at approximately $77,600. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Howard E. Davis sold 10,298 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $7.28, for a total transaction of $74,969.44. Following the completion of the sale, the chief accounting officer now directly owns 55,212 shares of the company’s stock, valued at approximately $401,943.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,722 shares of company stock valued at $858,980. 14.09% of the stock is owned by corporate insiders.

Shares of NYSE RIG opened at $8.28 on Monday. Transocean LTD has a 12-month low of $6.19 and a 12-month high of $14.47. The stock has a market cap of $3.82 billion, a P/E ratio of -138.00 and a beta of 1.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.07 and a quick ratio of 2.77.

Several research analysts recently weighed in on the stock. Johnson Rice upgraded shares of Transocean from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a research report on Wednesday, October 17th. UBS Group upgraded shares of Transocean from an “accumulate” rating to a “buy” rating in a research report on Thursday, October 18th. DNB Markets upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. ValuEngine downgraded shares of Transocean from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Credit Suisse Group assumed coverage on shares of Transocean in a research report on Thursday, December 13th. They set an “outperform” rating and a $14.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Transocean presently has an average rating of “Hold” and an average target price of $13.70.

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Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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