Transocean Ltd. $RIG Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. lifted its holdings in Transocean Ltd. (NYSE:RIG) by 111.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,490 shares of the offshore drilling services provider’s stock after acquiring an additional 12,400 shares during the quarter. Harbour Investments Inc.’s holdings in Transocean were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RIG. Goldman Sachs Group Inc. increased its stake in shares of Transocean by 88.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after acquiring an additional 5,719,637 shares during the period. Nuveen LLC acquired a new stake in shares of Transocean in the first quarter worth $7,774,000. American Century Companies Inc. grew its position in Transocean by 10.9% during the first quarter. American Century Companies Inc. now owns 21,348,095 shares of the offshore drilling services provider’s stock valued at $67,673,000 after buying an additional 2,090,658 shares during the period. Keybank National Association OH grew its position in Transocean by 14.2% during the first quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider’s stock valued at $42,733,000 after buying an additional 1,672,958 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Transocean by 114.0% during the first quarter. Cubist Systematic Strategies LLC now owns 2,424,925 shares of the offshore drilling services provider’s stock valued at $7,687,000 after buying an additional 1,291,565 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity

In related news, Director Frederik Wilhelm Mohn bought 4,000,000 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were acquired at an average price of $3.05 per share, for a total transaction of $12,200,000.00. Following the completion of the transaction, the director directly owned 95,074,894 shares in the company, valued at $289,978,426.70. This trade represents a 4.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director (Cyprus) Ltd Perestroika bought 4,000,000 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was bought at an average price of $3.05 per share, for a total transaction of $12,200,000.00. Following the transaction, the director owned 95,074,894 shares of the company’s stock, valued at approximately $289,978,426.70. This trade represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.27% of the stock is owned by company insiders.

Analyst Ratings Changes

RIG has been the topic of several analyst reports. Barclays raised their price target on shares of Transocean from $3.50 to $4.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Transocean currently has a consensus rating of “Hold” and an average price target of $4.26.

Transocean Stock Up 13.3%

Shares of NYSE RIG opened at $3.88 on Friday. The company’s 50-day simple moving average is $3.22 and its 200-day simple moving average is $2.85. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $4.74. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -2.08 and a beta of 2.68. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63.

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.