Old West Investment Management LLC Makes New $296,000 Investment in Transocean Ltd. $RIG

Old West Investment Management LLC purchased a new stake in Transocean Ltd. (NYSE:RIG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 95,000 shares of the offshore drilling services provider’s stock, valued at approximately $296,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Josh Arnold Investment Consultant LLC bought a new stake in Transocean during the second quarter valued at approximately $26,000. Benedict Financial Advisors Inc. purchased a new stake in shares of Transocean during the 3rd quarter valued at $31,000. Blueshift Asset Management LLC bought a new stake in shares of Transocean during the 2nd quarter worth $27,000. Blume Capital Management Inc. grew its position in Transocean by 125.9% in the second quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock worth $27,000 after acquiring an additional 5,885 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Transocean by 78.0% in the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock valued at $28,000 after acquiring an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Transocean

In other Transocean news, Director Frederik Wilhelm Mohn bought 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average price of $4.02 per share, for a total transaction of $6,030,000.00. Following the completion of the acquisition, the director directly owned 96,574,894 shares in the company, valued at $388,231,073.88. The trade was a 1.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Perestroika purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average price of $4.02 per share, for a total transaction of $6,030,000.00. Following the acquisition, the director owned 96,574,894 shares of the company’s stock, valued at $388,231,073.88. This represents a 1.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 712,970 shares of company stock worth $3,152,132 over the last 90 days. 12.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on RIG. Citigroup lifted their price target on Transocean from $4.25 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a research note on Wednesday, December 10th. Morgan Stanley set a $4.50 price target on shares of Transocean in a research note on Monday, December 15th. BTIG Research upped their price objective on shares of Transocean from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays increased their target price on shares of Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.55.

Transocean Stock Up 8.9%

Shares of Transocean stock opened at $5.38 on Friday. The company’s 50 day moving average price is $4.40 and its 200-day moving average price is $3.74. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $5.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.91 and a current ratio of 1.08. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -1.64 and a beta of 1.46.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.