State Street Corp Has $83.28 Million Stake in Transocean Ltd. (NYSE:RIG)

State Street Corp increased its stake in shares of Transocean Ltd. (NYSE:RIG) by 11.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,594,121 shares of the offshore drilling services provider’s stock after acquiring an additional 1,944,723 shares during the period. State Street Corp owned 2.24% of Transocean worth $83,275,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Transocean by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock valued at $49,327,000 after acquiring an additional 826,229 shares during the last quarter. International Assets Investment Management LLC grew its holdings 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 valued at $836,000 after buying an additional 151,507 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Transocean by 125.9% in the 3rd quarter. MetLife Investment Management LLC now owns 415,031 shares of the offshore drilling services provider’s stock valued at $1,764,000 after buying an additional 231,334 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Transocean by 214.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock valued at $2,046,000 after buying an additional 260,710 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Transocean in the 3rd quarter valued at approximately $670,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Transocean Price Performance

Transocean stock opened at $3.74 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The company has a market capitalization of $3.27 billion, a PE ratio of -4.98 and a beta of 2.75. Transocean Ltd. has a one year low of $3.70 and a one year high of $6.88. The business has a 50 day simple moving average of $4.23 and a 200 day simple moving average of $4.74.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Friday, December 6th. Morgan Stanley raised their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Citigroup lowered Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Susquehanna decreased their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday, November 1st. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.25.

Insider Buying and Selling

In related 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 transaction of $85,800.00. Following the completion of the transaction, the executive vice president now owns 310,857 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 13.16% of the stock is owned by corporate insiders.

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.