119,801 Shares in Transocean Ltd. (NYSE:RIG) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in Transocean Ltd. (NYSE:RIG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 119,801 shares of the offshore drilling services provider's stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RIG. Raymond James Financial Inc. acquired a new stake in Transocean in the 4th quarter worth $893,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Transocean during the 4th quarter valued at about $44,000. Avantax Advisory Services Inc. boosted its position in shares of Transocean by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider's stock valued at $401,000 after acquiring an additional 4,285 shares in the last quarter. Swiss National Bank boosted its position in shares of Transocean by 0.9% during the 4th quarter. Swiss National Bank now owns 1,463,630 shares of the offshore drilling services provider's stock valued at $5,489,000 after acquiring an additional 12,900 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Transocean during the 4th quarter valued at about $11,156,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Transocean

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $2.78, for a total transaction of $61,160.00. Following the completion of the transaction, the executive vice president owned 340,841 shares in the company, valued at approximately $947,537.98. This represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

RIG has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating for the company in a report on Friday, May 16th. BTIG Research set a $5.00 price target on shares of Transocean and gave the company a "buy" rating in a report on Monday, May 5th. Susquehanna cut their price target on shares of Transocean from $5.00 to $4.00 and set a "positive" rating for the company in a report on Monday, April 14th. Wall Street Zen raised shares of Transocean from a "sell" rating to a "hold" rating in a report on Friday. Finally, Barclays dropped their target price on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $4.58.

Transocean Trading Up 0.6%

Shares of RIG traded up $0.02 on Monday, reaching $2.65. 25,183,642 shares of the company's stock were exchanged, compared to its average volume of 29,670,515. The company has a current ratio of 1.33, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.34 billion, a P/E ratio of -2.78, a price-to-earnings-growth ratio of 5.62 and a beta of 2.50. The business has a 50 day moving average price of $2.75 and a two-hundred day moving average price of $3.00. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $5.98.

Transocean (NYSE:RIG - Get Free Report) last issued its earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Transocean had a negative net margin of 18.79% and a negative return on equity of 0.94%. The firm had revenue of $906.00 million during the quarter, compared to the consensus estimate of $884.92 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The business's quarterly revenue was up 18.7% on a year-over-year basis. Research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current year.

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.