Abel Hall LLC Lowers Stake in Transocean Ltd. (NYSE:RIG)

Abel Hall LLC lessened its stake in Transocean Ltd. (NYSE:RIG) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,462 shares of the offshore drilling services provider’s stock after selling 2,889 shares during the period. Abel Hall LLC’s holdings in Transocean were worth $47,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new position in shares of Transocean during the second quarter valued at $135,000. Sei Investments Co. increased its position in Transocean by 1.6% during the 2nd quarter. Sei Investments Co. now owns 405,000 shares of the offshore drilling services provider’s stock valued at $2,167,000 after purchasing an additional 6,520 shares during the period. Bank of Montreal Can raised its holdings in shares of Transocean by 45.9% in the 2nd quarter. Bank of Montreal Can now owns 317,637 shares of the offshore drilling services provider’s stock valued at $1,699,000 after purchasing an additional 99,862 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Transocean in the 2nd quarter worth approximately $249,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Transocean by 214.3% during the second quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock valued at $2,046,000 after purchasing an additional 260,710 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

RIG has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Friday, December 6th. Barclays raised Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective on the stock in a research report on Wednesday, December 18th. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Susquehanna cut their price objective 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. Finally, StockNews.com upgraded shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.94.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the completion of the sale, the executive vice president now directly owns 229,596 shares in the company, valued at approximately $929,863.80. The trade was a 8.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.16% of the stock is currently owned by company insiders.

Transocean Trading Down 2.4 %

NYSE RIG opened at $3.83 on Thursday. 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 12-month low of $3.40 and a 12-month high of $6.88. The company has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $4.42.

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.