Dimensional Fund Advisors LP Grows Stake 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 increased its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,660,439 shares of the offshore drilling services provider's stock after acquiring an additional 651,843 shares during the period. Dimensional Fund Advisors LP owned about 4.60% of Transocean worth $128,894,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Transocean by 154.8% during the 1st quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock worth $28,000 after acquiring an additional 5,353 shares in the last quarter. Optiver Holding B.V. raised its position in Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after purchasing an additional 2,933 shares in the last quarter. Townsend & Associates Inc acquired a new stake in Transocean in the 1st quarter valued at about $32,000. Costello Asset Management INC acquired a new stake in Transocean in the 1st quarter valued at about $32,000. Finally, Wedbush Securities Inc. acquired a new stake in Transocean in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

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

Transocean Stock Up 4.1%

Shares of RIG traded up $0.13 during mid-day trading on Wednesday, reaching $3.17. The company's stock had a trading volume of 28,329,853 shares, compared to its average volume of 22,172,356. Transocean Ltd. has a 12-month low of $1.97 and a 12-month high of $4.87. The stock has a market cap of $2.98 billion, a PE ratio of -1.70, a price-to-earnings-growth ratio of 6.50 and a beta of 2.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.26 and a quick ratio of 0.99. The company's 50 day moving average is $2.86 and its 200 day moving average is $2.82.

Transocean Company 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.