Gabelli Funds LLC acquired a new stake in Transocean LTD (NYSE:RIG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 38,273 shares of the offshore drilling services provider’s stock, valued at approximately $266,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. We Are One Seven LLC purchased a new position in shares of Transocean in the 4th quarter valued at $31,000. Stratos Wealth Partners LTD. purchased a new position in Transocean during the 3rd quarter worth $105,000. Mobius Capital Management LLC purchased a new position in Transocean during the 3rd quarter worth $112,000. NuWave Investment Management LLC grew its position in Transocean by 2,193.1% during the 4th quarter. NuWave Investment Management LLC now owns 8,324 shares of the offshore drilling services provider’s stock worth $57,000 after purchasing an additional 7,961 shares during the last quarter. Finally, MinichMacGregor Wealth Management LLC grew its position in Transocean by 100.0% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 10,000 shares of the offshore drilling services provider’s stock worth $141,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.
In other news, CAO Howard E. Davis sold 10,298 shares of Transocean stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $7.28, for a total transaction of $74,969.44. Following the completion of the sale, the chief accounting officer now directly owns 55,212 shares in the company, valued at $401,943.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vanessa C. L. Chang purchased 6,000 shares of the stock in a transaction dated Monday, December 10th. The shares were purchased at an average price of $8.00 per share, with a total value of $48,000.00. Following the completion of the acquisition, the director now owns 9,700 shares of the company’s stock, valued at $77,600. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 120,722 shares of company stock valued at $858,980. Insiders own 14.09% of the company’s stock.
Shares of NYSE RIG opened at $8.28 on Monday. The stock has a market cap of $3.82 billion, a PE ratio of -138.00 and a beta of 1.81. Transocean LTD has a 12 month low of $6.19 and a 12 month high of $14.47. The company has a quick ratio of 2.77, a current ratio of 3.07 and a debt-to-equity ratio of 0.75.
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Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.
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