11,000 Shares in Transocean Ltd. $RIG Purchased by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. acquired a new position in Transocean Ltd. (NYSE:RIG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,000 shares of the offshore drilling services provider’s stock, valued at approximately $28,000.

Several other institutional investors also recently bought and sold shares of RIG. Goldman Sachs Group Inc. boosted its holdings in Transocean by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock worth $38,521,000 after buying an additional 5,719,637 shares during the last quarter. Nuveen LLC acquired a new position in shares of Transocean during the 1st quarter worth approximately $7,774,000. American Century Companies Inc. boosted its holdings in shares of Transocean by 10.9% during the 1st quarter. American Century Companies Inc. now owns 21,348,095 shares of the offshore drilling services provider’s stock worth $67,673,000 after purchasing an additional 2,090,658 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Transocean by 14.2% during the 1st quarter. Keybank National Association OH now owns 13,480,351 shares of the offshore drilling services provider’s stock worth $42,733,000 after purchasing an additional 1,672,958 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Transocean by 114.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 2,424,925 shares of the offshore drilling services provider’s stock worth $7,687,000 after purchasing an additional 1,291,565 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RIG shares. Barclays boosted their target price on Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Wall Street Zen upgraded Transocean from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.26.

Transocean Stock Up 0.9%

RIG stock opened at $3.19 on Friday. The firm has a market cap of $3.01 billion, a PE ratio of -1.72, a PEG ratio of 6.14 and a beta of 2.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The firm’s 50 day moving average price is $3.08 and its 200-day moving average price is $2.82. Transocean Ltd. has a one year low of $1.97 and a one year high of $4.74.

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.