State of New Jersey Common Pension Fund D Buys 83,683 Shares of Transocean LTD (NYSE:RIG)

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State of New Jersey Common Pension Fund D raised its stake in Transocean LTD (NYSE:RIG) by 22.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 453,083 shares of the offshore drilling services provider’s stock after purchasing an additional 83,683 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Transocean worth $3,117,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RIG. BlackRock Inc. lifted its holdings in shares of Transocean by 2.9% during the 2nd quarter. BlackRock Inc. now owns 48,524,391 shares of the offshore drilling services provider’s stock worth $311,041,000 after acquiring an additional 1,375,500 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Transocean by 45.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 4,179,664 shares of the offshore drilling services provider’s stock worth $18,683,000 after acquiring an additional 1,299,212 shares during the period. Millennium Management LLC lifted its holdings in shares of Transocean by 490.8% during the 3rd quarter. Millennium Management LLC now owns 1,191,795 shares of the offshore drilling services provider’s stock worth $5,327,000 after acquiring an additional 990,068 shares during the period. State Street Corp lifted its holdings in shares of Transocean by 4.6% during the 3rd quarter. State Street Corp now owns 14,742,267 shares of the offshore drilling services provider’s stock worth $65,898,000 after acquiring an additional 644,038 shares during the period. Finally, State of Tennessee Treasury Department bought a new position in shares of Transocean during the 3rd quarter worth about $2,318,000. 70.65% of the stock is owned by hedge funds and other institutional investors.

RIG stock traded down $0.15 during trading on Friday, hitting $4.51. 6,739,517 shares of the stock traded hands, compared to its average volume of 16,832,354. Transocean LTD has a one year low of $3.76 and a one year high of $9.79. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -1.84 and a beta of 2.03. The company has a 50 day simple moving average of $5.71 and a 200 day simple moving average of $5.19. The company has a current ratio of 2.53, a quick ratio of 2.21 and a debt-to-equity ratio of 0.76.

A number of research firms have recently commented on RIG. Sanford C. Bernstein began coverage on shares of Transocean in a report on Monday, January 13th. They set an “underperform” rating and a $2.90 price objective for the company. Fearnley Fonds downgraded shares of Transocean from a “buy” rating to a “hold” rating and set a $6.00 price target for the company. in a report on Monday, October 21st. Bernstein Bank started coverage on shares of Transocean in a report on Tuesday, January 14th. They set an “underperform” rating and a $2.90 price target for the company. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Finally, Deutsche Bank started coverage on shares of Transocean in a report on Wednesday, November 27th. They set a “sell” rating and a $3.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.38.

In related news, SVP David A. Tonnel sold 10,000 shares of Transocean stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $4.68, for a total transaction of $46,800.00. Following the completion of the transaction, the senior vice president now directly owns 119,083 shares of the company’s stock, valued at approximately $557,308.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.05% of the company’s stock.

Transocean Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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