Transocean Ltd. (NYSE:RIG) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its holdings in Transocean Ltd. (NYSE:RIG) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,110 shares of the offshore drilling services provider’s stock after acquiring an additional 53,774 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Transocean were worth $1,696,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capital World Investors raised its position in Transocean by 18.8% in the first quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock valued at $290,984,000 after purchasing an additional 7,320,672 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Transocean by 19.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock valued at $196,484,000 after buying an additional 5,856,414 shares during the period. Assenagon Asset Management S.A. purchased a new position in Transocean in the 2nd quarter worth approximately $16,179,000. American Century Companies Inc. grew its position in Transocean by 24.3% in the second quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock valued at $71,891,000 after acquiring an additional 2,623,615 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Transocean by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock valued at $90,192,000 after purchasing an additional 2,606,017 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Stock Performance

Shares of RIG opened at $4.30 on Tuesday. The stock has a market capitalization of $3.76 billion, a PE ratio of -5.73 and a beta of 2.78. The business’s fifty day moving average price is $4.32 and its 200 day moving average price is $4.98. 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 12-month low of $3.85 and a 12-month high of $6.88.

Insiders Place Their Bets

In related news, Director Perestroika bought 1,500,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This represents a 1.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RIG shares. Susquehanna lowered their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a report on Friday, November 1st. Barclays dropped their target price on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Benchmark downgraded Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley raised their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Transocean currently has a consensus rating of “Hold” and a consensus target price of $6.63.

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.