Bourgeon Capital Management LLC Reduces Position in Transocean Ltd. (NYSE:RIG)

Bourgeon Capital Management LLC reduced its holdings in Transocean Ltd. (NYSE:RIG) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,000 shares of the offshore drilling services provider’s stock after selling 4,500 shares during the period. Bourgeon Capital Management LLC’s holdings in Transocean were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its stake in Transocean by 10.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock worth $107,000 after buying an additional 2,469 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 2,693 shares during the last quarter. Ballentine Partners LLC boosted its stake in Transocean by 19.4% in the fourth quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock valued at $68,000 after acquiring an additional 2,963 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after buying an additional 3,127 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Transocean by 34.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock valued at $62,000 after acquiring an additional 4,027 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RIG. Morgan Stanley boosted their price objective on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Friday, December 6th. StockNews.com raised Transocean to a “sell” rating in a research report on Tuesday, November 12th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a research report on Wednesday, December 18th. Finally, TD Cowen dropped their price objective on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Transocean currently has a consensus rating of “Hold” and an average price target of $5.94.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at $1,333,576.53. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.54% of the stock is owned by corporate insiders.

Transocean Stock Down 2.6 %

Transocean stock opened at $3.96 on Wednesday. The firm’s 50 day simple moving average is $4.02 and its 200-day simple moving average is $4.46. 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 fifty-two week low of $3.40 and a fifty-two week high of $6.88.

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.