180 Wealth Advisors LLC Buys 113,320 Shares of Transocean Ltd. $RIG

Key Points

• 180 Wealth Advisors LLC has increased its stake in Transocean Ltd. by 69.3%, acquiring an additional 113,320 shares during the second quarter, bringing its total holdings to 276,851 shares valued at $717,000.
• Other institutional investors have also significantly elevated their positions in Transocean, with Blume Capital Management increasing its shares by 125.9% and Townsend & Associates by 150.0% in the same period.
• Analysts' ratings on Transocean have varied, with Barclays raising the target price to $4.00 and maintaining an "overweight" rating, while Weiss Ratings issued a "sell" rating, reflecting mixed sentiments about the stock's performance.

180 Wealth Advisors LLC increased its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 69.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,851 shares of the offshore drilling services provider's stock after purchasing an additional 113,320 shares during the period. 180 Wealth Advisors LLC's holdings in Transocean were worth $717,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Blume Capital Management Inc. increased its position in shares of 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 purchasing an additional 5,885 shares during the last quarter. Townsend & Associates Inc increased its position in shares of Transocean by 150.0% in the second quarter. Townsend & Associates Inc now owns 25,000 shares of the offshore drilling services provider's stock worth $65,000 after purchasing an additional 15,000 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Transocean in the second quarter worth approximately $32,000. Essex LLC boosted its stake in Transocean by 18.1% in the second quarter. Essex LLC now owns 119,366 shares of the offshore drilling services provider's stock worth $309,000 after buying an additional 18,255 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in Transocean by 111.8% in the second quarter. Harbour Investments Inc. now owns 23,490 shares of the offshore drilling services provider's stock worth $61,000 after buying an additional 12,400 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Transocean Stock Performance

Shares of RIG stock opened at $3.90 on Friday. The stock has a fifty day moving average of $3.24 and a 200 day moving average of $2.87. Transocean Ltd. has a 52 week low of $1.97 and a 52 week high of $4.74. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -2.09 and a beta of 2.68. The company has a quick ratio of 0.99, a current ratio of 1.26 and a debt-to-equity ratio of 0.63.

Analyst Ratings Changes

Several equities analysts recently commented on RIG shares. Barclays increased their target price on shares of Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Transocean in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Transocean has an average rating of "Hold" and a consensus target price of $4.26.

Insiders Place Their Bets

In other Transocean news, Director (Cyprus) Ltd Perestroika purchased 4,000,000 shares of the company's stock in a transaction that occurred on Friday, September 26th. The stock was bought at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the purchase, the director directly owned 95,074,894 shares of the company's stock, valued at $289,978,426.70. The trade was a 4.39% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederik Wilhelm Mohn purchased 4,000,000 shares of the company's stock in a transaction that occurred on Friday, September 26th. The stock was acquired at an average cost of $3.05 per share, with a total value of $12,200,000.00. Following the purchase, the director directly owned 95,074,894 shares of the company's stock, valued at $289,978,426.70. This trade represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 12.27% of the company's stock.

Transocean Company 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.

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