New York State Common Retirement Fund Has $9.11 Million Stake in Transocean Ltd. (NYSE:RIG)

New York State Common Retirement Fund cut its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 29.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,435,298 shares of the offshore drilling services provider's stock after selling 599,023 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of Transocean worth $9,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vicus Capital purchased a new position in Transocean during the fourth quarter worth about $88,000. RIA Advisory Group LLC acquired a new position in Transocean in the 4th quarter valued at about $95,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Transocean by 6.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,306 shares of the offshore drilling services provider's stock worth $986,000 after purchasing an additional 9,763 shares during the period. Bourgeon Capital Management LLC acquired a new stake in shares of Transocean during the fourth quarter worth about $216,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Transocean by 96.3% in the fourth quarter. Mackenzie Financial Corp now owns 983,497 shares of the offshore drilling services provider's stock valued at $6,245,000 after purchasing an additional 482,537 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Trading Up 1.9 %

RIG traded up $0.10 during trading on Thursday, hitting $5.37. The company's stock had a trading volume of 20,889,256 shares, compared to its average volume of 18,357,033. Transocean Ltd. has a twelve month low of $4.45 and a twelve month high of $8.88. The firm's 50 day moving average price is $5.74 and its 200-day moving average price is $5.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.35 and a quick ratio of 1.22. The stock has a market cap of $4.40 billion, a PE ratio of -10.33 and a beta of 2.83.

Transocean (NYSE:RIG - Get Free Report) last released its quarterly earnings data on Monday, April 29th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. The business had revenue of $767.00 million for the quarter, compared to analyst estimates of $781.86 million. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The company's revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.38) EPS. On average, analysts expect that Transocean Ltd. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RIG shares. Evercore ISI reduced their target price on shares of Transocean from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday. Barclays lowered their price objective on Transocean from $7.00 to $6.00 and set an "equal weight" rating for the company in a research report on Thursday, February 22nd. Citigroup reduced their target price on shares of Transocean from $9.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, February 21st. Morgan Stanley lowered their price target on shares of Transocean from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Monday, February 26th. Finally, Benchmark reaffirmed a "buy" rating and set a $8.00 price objective on shares of Transocean in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.70.

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.