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

State of New Jersey Common Pension Fund D increased its position in shares of Transocean Ltd. (NYSE:RIG) by 25.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 499,801 shares of the offshore drilling services provider’s stock after buying an additional 100,691 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Transocean worth $1,874,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RIG. CWM LLC raised its holdings in shares of Transocean by 36.1% in the 3rd quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock valued at $73,000 after purchasing an additional 4,529 shares in the last quarter. Creative Planning increased its holdings in Transocean by 63.0% in the third quarter. Creative Planning now owns 290,993 shares of the offshore drilling services provider’s stock valued at $1,237,000 after buying an additional 112,512 shares during the last quarter. International Assets Investment Management LLC raised its stake in Transocean by 335.3% in the third quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock valued at $836,000 after buying an additional 151,507 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its holdings in Transocean by 8.4% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 106,950 shares of the offshore drilling services provider’s stock worth $455,000 after buying an additional 8,300 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Transocean by 19.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,442 shares of the offshore drilling services provider’s stock worth $142,000 after acquiring an additional 5,344 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the transaction, the executive vice president now directly owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.16% of the stock is owned by insiders.

Transocean Stock Down 1.0 %

Shares of NYSE:RIG opened at $3.33 on Tuesday. Transocean Ltd. has a 1-year low of $3.28 and a 1-year high of $6.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. The stock has a market cap of $2.92 billion, a P/E ratio of -4.56, a P/E/G ratio of 0.86 and a beta of 2.70. The firm has a fifty day moving average price of $3.78 and a 200 day moving average price of $4.18.

Transocean (NYSE:RIG) last announced its earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The business had revenue of $952.00 million for the quarter, compared to analyst estimates of $962.28 million. Sell-side analysts predict that Transocean Ltd. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RIG shares. Susquehanna cut their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research report on Friday, November 1st. Evercore ISI cut shares of Transocean from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, January 15th. Benchmark restated a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. StockNews.com upgraded shares of Transocean to a “sell” rating in a research note on Tuesday, November 12th. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target for the company in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.81.

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.