Adero Partners LLC Invests $38,000 in Transocean Ltd. (NYSE:RIG)

Adero Partners LLC bought a new position in shares of Transocean Ltd. (NYSE:RIG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,178 shares of the offshore drilling services provider’s stock, valued at approximately $38,000.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Transocean by 138.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Transocean by 96.2% during the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock worth $37,000 after purchasing an additional 4,826 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Transocean during the fourth quarter worth approximately $40,000. Orion Portfolio Solutions LLC bought a new stake in shares of Transocean during the third quarter worth approximately $46,000. Finally, R Squared Ltd bought a new stake in shares of Transocean during the fourth quarter worth approximately $41,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RIG has been the subject of a number of recent research reports. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. StockNews.com raised shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.94.

Transocean Stock Performance

Shares of RIG opened at $3.76 on Friday. Transocean Ltd. has a 12 month low of $3.40 and a 12 month high of $6.88. The firm has a fifty day simple moving average of $3.91 and a 200 day simple 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.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 229,596 shares in the company, valued at approximately $929,863.80. This represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.54% of the stock is currently owned by corporate insiders.

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.