Dimensional Fund Advisors LP Boosts Position in Transocean Ltd. $RIG

Key Points

• Dimensional Fund Advisors LP increased its holdings in Transocean Ltd. by 1.6%, acquiring 651,843 shares, bringing its total ownership to approximately 40.66 million shares valued at $128.89 million.
• Transocean's stock opened at $2.8250 with a market cap of $2.66 billion, showing a yearly low of $1.97 and a high of $5.11.
• Analysts have set a consensus rating of "Hold" for Transocean with a target price averaging $4.26, with several firms upgrading their ratings in recent months.

Dimensional Fund Advisors LP grew its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,660,439 shares of the offshore drilling services provider's stock after buying an additional 651,843 shares during the quarter. Dimensional Fund Advisors LP owned 4.60% of Transocean worth $128,894,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Boston Partners raised its position in Transocean by 3.2% during the 1st quarter. Boston Partners now owns 140,904 shares of the offshore drilling services provider's stock worth $447,000 after buying an additional 4,331 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Transocean by 17.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 49,167 shares of the offshore drilling services provider's stock worth $156,000 after buying an additional 7,166 shares in the last quarter. Nuveen LLC purchased a new stake in Transocean during the first quarter worth about $7,774,000. Hosking Partners LLP boosted its holdings in Transocean by 26.1% during the first quarter. Hosking Partners LLP now owns 2,150,664 shares of the offshore drilling services provider's stock worth $6,818,000 after buying an additional 444,521 shares in the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in Transocean during the first quarter worth about $105,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Transocean Trading Up 2.0%

Shares of Transocean stock traded up $0.06 during mid-day trading on Monday, hitting $3.10. 19,223,292 shares of the stock were exchanged, compared to its average volume of 35,777,926. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $5.11. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -1.67, a price-to-earnings-growth ratio of 6.50 and a beta of 2.52. The company has a 50-day simple moving average of $2.87 and a 200 day simple moving average of $2.82. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RIG. BTIG Research set a $5.00 price objective on shares of Transocean and gave the stock a "buy" rating in a report on Monday, May 5th. Barclays increased their price objective on shares of Transocean from $3.50 to $4.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Wall Street Zen raised shares of Transocean from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Morgan Stanley lowered their price objective on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.26.

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.