New York State Common Retirement Fund Grows Position in Transocean Ltd. $RIG

New York State Common Retirement Fund boosted its holdings in Transocean Ltd. (NYSE:RIG) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,344,360 shares of the offshore drilling services provider’s stock after buying an additional 98,469 shares during the quarter. New York State Common Retirement Fund owned 0.25% of Transocean worth $7,314,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of Transocean by 3.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 216,448 shares of the offshore drilling services provider’s stock worth $675,000 after acquiring an additional 7,441 shares during the period. Trek Financial LLC purchased a new stake in Transocean in the third quarter worth approximately $5,162,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Transocean in the 3rd quarter worth approximately $1,708,000. Strs Ohio purchased a new stake in Transocean during the 3rd quarter valued at $60,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Transocean by 6.5% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 265,439 shares of the offshore drilling services provider’s stock valued at $828,000 after buying an additional 16,086 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup upped their price objective on Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. BTIG Research raised their price objective on shares of Transocean from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Monday. Susquehanna upped their target price on shares of Transocean from $4.50 to $5.00 and gave the company a “positive” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus price target of $4.55.

Transocean Trading Up 7.0%

Transocean stock opened at $5.33 on Thursday. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $5.36. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of -1.63 and a beta of 1.46. The firm has a 50 day moving average of $4.36 and a 200 day moving average of $3.71. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.60.

Insider Activity

In related news, CEO Keelan Adamson sold 58,687 shares of Transocean stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $5.00, for a total transaction of $293,435.00. Following the transaction, the chief executive officer owned 1,222,182 shares in the company, valued at approximately $6,110,910. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeremy D. Thigpen sold 500,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $4.32, for a total value of $2,160,000.00. Following the completion of the sale, the insider owned 2,136,223 shares of the company’s stock, valued at $9,228,483.36. The trade was a 18.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 712,970 shares of company stock worth $3,152,132. 12.27% of the stock is currently owned by insiders.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.