First National Trust Co Invests $79,000 in Transocean Ltd. (NYSE:RIG)

First National Trust Co acquired a new stake in Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,699 shares of the offshore drilling services provider’s stock, valued at approximately $79,000.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after purchasing an additional 2,693 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in Transocean in the second quarter worth approximately $30,000. Atria Investments Inc bought a new position in Transocean in the third quarter worth approximately $51,000. Fiducient Advisors LLC bought a new stake in Transocean during the 1st quarter valued at $63,000. Finally, SG Americas Securities LLC purchased a new position in shares of Transocean in the 2nd quarter valued at $64,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RIG shares. Susquehanna decreased their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Citigroup cut shares of Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Barclays reduced their price objective on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Benchmark downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Transocean presently has an average rating of “Hold” and an average target price of $6.63.

Transocean Trading Down 1.3 %

NYSE:RIG opened at $4.24 on Thursday. The company has a market capitalization of $3.71 billion, a P/E ratio of -5.65 and a beta of 2.78. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 12 month low of $3.85 and a 12 month high of $6.88. The firm has a fifty day simple moving average of $4.31 and a 200-day simple moving average of $5.01.

Insider Buying and Selling

In other news, Director Perestroika acquired 1,500,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the acquisition, the director now owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 13.16% of the stock is currently owned by company insiders.

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.