Gabelli Funds LLC Invests $266,000 in Transocean LTD (RIG)

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.

Several brokerages have issued reports on RIG. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. UBS Group set a $12.00 price objective on shares of Transocean and gave the stock a “buy” rating in a research report on Thursday, December 20th. Credit Suisse Group started coverage on shares of Transocean in a research report on Thursday, December 13th. They set an “outperform” rating and a $14.00 price objective on the stock. ValuEngine downgraded shares of Transocean from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Finally, Johnson Rice raised shares of Transocean from a “sell” rating to a “hold” rating and set a $16.00 target price on the stock in a report on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $13.70.

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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About Transocean

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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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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