Adero Partners LLC Purchases Shares of 10,178 Transocean Ltd. (NYSE:RIG)

Adero Partners LLC acquired a new stake in Transocean Ltd. (NYSE:RIG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,178 shares of the offshore drilling services provider’s stock, valued at approximately $38,000.

Several other large investors also recently modified their holdings of RIG. Northwestern Mutual Wealth Management Co. raised its position in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after purchasing an additional 2,693 shares during the period. Blue Trust Inc. raised its position in shares of Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after purchasing an additional 4,826 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Transocean in the fourth quarter valued at about $40,000. R Squared Ltd bought a new position in shares of Transocean in the fourth quarter valued at about $41,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Transocean in the third quarter valued at about $46,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RIG. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Friday, December 6th. Susquehanna dropped their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. TD Cowen dropped their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Transocean presently has an average rating of “Hold” and a consensus price target of $5.94.

Transocean Stock Down 3.0 %

Shares of NYSE:RIG opened at $3.76 on Friday. The firm has a 50 day moving average of $3.91 and a 200-day moving average of $4.36. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean Ltd. has a 12 month low of $3.40 and a 12 month high of $6.88.

Insider Activity

In related 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 sale, the executive vice president now directly owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. The trade was a 8.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 12.54% of the company’s stock.

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.