2,452,239 Shares in Transocean Ltd. $RIG Purchased by Nuveen LLC

Key Points

• Nuveen LLC invested approximately $7.77 million in Transocean Ltd., acquiring 2,452,239 shares, which represents 0.28% of the company.
• Other institutional investors also increased their stakes in Transocean during the fourth quarter, with substantial rises from Mariner LLC and Tower Research Capital LLC.
• Transocean's stock has been rated by analysts with a consensus price target of $4.26, as several analysts have recently adjusted their ratings and price forecasts.

Nuveen LLC bought a new position in Transocean Ltd. (NYSE:RIG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,452,239 shares of the offshore drilling services provider's stock, valued at approximately $7,774,000. Nuveen LLC owned about 0.28% of Transocean at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Optiver Holding B.V. increased 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 worth $32,000 after purchasing an additional 2,933 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Transocean by 154.8% in the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider's stock worth $28,000 after buying an additional 5,353 shares during the last quarter. Townsend & Associates Inc acquired a new stake in shares of Transocean in the first quarter worth about $32,000. Costello Asset Management INC acquired a new stake in shares of Transocean in the first quarter worth about $32,000. Finally, Guardian Wealth Advisors LLC NC acquired a new stake in shares of Transocean in the fourth quarter worth about $40,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Barclays boosted their price target on Transocean from $3.50 to $4.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Morgan Stanley cut their price objective on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, May 16th. BTIG Research set a $5.00 price objective on shares of Transocean and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of 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 assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $4.26.

Transocean Price Performance

Transocean stock traded down $0.09 during trading hours on Thursday, hitting $3.09. 24,232,910 shares of the stock were exchanged, compared to its average volume of 35,533,352. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The stock has a market capitalization of $2.91 billion, a P/E ratio of -1.66, a P/E/G ratio of 6.50 and a beta of 2.52. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $4.87. The business's 50-day moving average is $2.86 and its two-hundred day moving average is $2.82.

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.