Essex LLC Sells 21,050 Shares of Transocean Ltd. (NYSE:RIG)

Essex LLC lowered its stake in Transocean Ltd. (NYSE:RIG) by 16.5% during the fourth quarter, Holdings Channel reports. The firm owned 106,609 shares of the offshore drilling services provider’s stock after selling 21,050 shares during the period. Essex LLC’s holdings in Transocean were worth $400,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Stephens Inc. AR acquired a new stake in Transocean in the fourth quarter valued at about $56,000. Adero Partners LLC acquired a new position in shares of Transocean during the fourth quarter worth $38,000. Stratos Wealth Partners LTD. bought a new position in shares of Transocean in the 4th quarter valued at $40,000. Chicago Partners Investment Group LLC bought a new stake in Transocean during the 4th quarter worth $71,000. Finally, Southern Capital Advisors LLC increased its holdings in Transocean by 27.8% in the 4th quarter. Southern Capital Advisors LLC now owns 23,001 shares of the offshore drilling services provider’s stock worth $86,000 after purchasing an additional 5,000 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on RIG shares. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. Benchmark reissued a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. TD Cowen decreased their price target on Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Susquehanna decreased their target price on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.94.

Transocean Stock Down 4.4 %

Shares of NYSE RIG opened at $3.59 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average of $3.89 and a 200-day moving average of $4.33. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -4.78, a PEG ratio of 0.75 and a beta of 2.70. Transocean Ltd. has a 12 month low of $3.40 and a 12 month high of $6.88.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the transaction, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is owned by insiders.

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.