Abel Hall LLC Sells 2,889 Shares of Transocean Ltd. (NYSE:RIG)

Abel Hall LLC decreased its holdings in shares of Transocean Ltd. (NYSE:RIG) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,462 shares of the offshore drilling services provider’s stock after selling 2,889 shares during the period. Abel Hall LLC’s holdings in Transocean were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Primecap Management Co. CA grew its holdings in Transocean by 0.4% during the third quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock valued at $239,454,000 after purchasing an additional 222,680 shares during the period. State Street Corp increased its holdings in Transocean by 11.0% in the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock worth $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Pilgrim Global Advisors LLC bought a new stake in Transocean during the 3rd quarter worth approximately $77,473,000. Geode Capital Management LLC lifted its holdings in Transocean by 4.1% during the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider’s stock valued at $73,307,000 after purchasing an additional 680,242 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Transocean by 7.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after purchasing an additional 826,229 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RIG shares. Susquehanna cut their price target on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research note on Friday, December 6th. Evercore ISI downgraded Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $6.00 to $5.00 in a research note on Wednesday, January 15th. Benchmark reaffirmed a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.94.

Transocean Price Performance

Shares of NYSE:RIG opened at $3.83 on Thursday. The firm has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $4.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. Transocean Ltd. has a 52 week low of $3.40 and a 52 week high of $6.88.

Insider Buying and Selling

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $4.05, for a total value of $89,100.00. Following the completion of the sale, the executive vice president now directly owns 229,596 shares in the company, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.16% of the stock is currently owned by company insiders.

Transocean 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.