Townsend & Associates Inc Buys 15,000 Shares of Transocean Ltd. $RIG

Townsend & Associates Inc grew its holdings in Transocean Ltd. (NYSE:RIG) by 150.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the offshore drilling services provider’s stock after purchasing an additional 15,000 shares during the quarter. Townsend & Associates Inc’s holdings in Transocean were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in RIG. Verum Partners LLC acquired a new position in Transocean during the 2nd quarter worth approximately $28,000. Stockman Wealth Management Inc. bought a new position in shares of Transocean in the second quarter valued at approximately $28,000. Belpointe Asset Management LLC bought a new position in shares of Transocean in the second quarter valued at approximately $30,000. Callan Family Office LLC bought a new position in Transocean during the second quarter valued at $30,000. Finally, Revolve Wealth Partners LLC bought a new position in Transocean during the second quarter valued at $30,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Price Performance

RIG stock opened at $3.26 on Monday. Transocean Ltd. has a 52-week low of $1.97 and a 52-week high of $4.74. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -1.75 and a beta of 2.68. The firm has a 50 day moving average price of $3.18 and a 200-day moving average price of $2.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Barclays raised their price target on Transocean from $3.50 to $4.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Transocean in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.26.

Insider Buying and Selling

In related news, Director (Cyprus) Ltd Perestroika bought 4,000,000 shares of the business’s stock in a transaction on Friday, September 26th. The stock was acquired at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the transaction, the director owned 95,074,894 shares in the company, valued at approximately $289,978,426.70. This trade represents a 4.39% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frederik Wilhelm Mohn purchased 4,000,000 shares of Transocean stock in a transaction on Friday, September 26th. The stock was bought at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the transaction, the director owned 95,074,894 shares of the company’s stock, valued at approximately $289,978,426.70. This represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.54% of the company’s stock.

About Transocean

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.