Keating Investment Counselors Inc. Makes New $720,000 Investment in Transocean Ltd. (NYSE:RIG)

Keating Investment Counselors Inc. acquired a new position in shares of Transocean Ltd. (NYSE:RIG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 191,950 shares of the offshore drilling services provider’s stock, valued at approximately $720,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RIG. Pilgrim Global Advisors LLC bought a new stake in Transocean in the third quarter valued at $77,473,000. Van ECK Associates Corp boosted its position in Transocean by 33.9% in the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock valued at $57,727,000 after buying an additional 3,895,880 shares in the last quarter. Kailix Advisors LLC grew its stake in Transocean by 59.9% during the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock worth $28,137,000 after buying an additional 2,481,059 shares during the last quarter. Point72 Europe London LLP acquired a new stake in Transocean during the 3rd quarter valued at $8,935,000. Finally, State Street Corp increased its stake in shares of Transocean by 11.0% in the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after buying an additional 1,944,723 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on RIG shares. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. TD Cowen reduced their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective on the stock in a report on Wednesday, December 18th. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Finally, 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 research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.94.

Transocean Price Performance

Shares of Transocean stock opened at $3.54 on Tuesday. 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 one year low of $3.40 and a one year high of $6.88. The stock’s 50-day moving average is $3.83 and its 200-day moving average is $4.24.

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.