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

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

Several other institutional investors and hedge funds also recently modified their holdings of the business. Kailix Advisors LLC raised its position in shares of Transocean by 59.9% during the 3rd quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock worth $28,137,000 after buying an additional 2,481,059 shares in the last quarter. Atria Investments Inc purchased a new position in Transocean during the 3rd quarter worth approximately $51,000. Harbor Capital Advisors Inc. grew its holdings in shares of Transocean by 19.0% during the third quarter. Harbor Capital Advisors Inc. now owns 33,442 shares of the offshore drilling services provider’s stock valued at $142,000 after buying an additional 5,344 shares in the last quarter. Murphy Pohlad Asset Management LLC increased its holdings in shares of Transocean by 8.4% in the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 106,950 shares of the offshore drilling services provider’s stock valued at $455,000 after purchasing an additional 8,300 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Transocean by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after buying an additional 151,507 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Transocean Stock Up 1.8 %

Transocean stock opened at $4.30 on Tuesday. The firm has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $4.98. Transocean Ltd. has a fifty-two week low of $3.85 and a fifty-two week high of $6.88. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -5.73 and a beta of 2.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insider Transactions at Transocean

In other news, Director Perestroika acquired 1,500,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the transaction, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. This trade represents a 1.67 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RIG shares. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Barclays reduced their target price on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley increased their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Finally, Susquehanna cut their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.63.

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.