Dimensional Fund Advisors LP Purchases 1,378,583 Shares of Transocean Ltd. (NYSE:RIG)

Dimensional Fund Advisors LP grew its position in Transocean Ltd. (NYSE:RIG – Get Rating) by 9.0% during the fourth quarter, HoldingsChannel reports. The firm owned 16,712,990 shares of the offshore drilling services provider’s stock after buying an additional 1,378,583 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Transocean were worth $76,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Transocean by 25.5% in the fourth quarter. International Assets Investment Management LLC now owns 45,259 shares of the offshore drilling services provider’s stock valued at $206,000 after purchasing an additional 9,207 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Transocean in the fourth quarter worth $1,004,000. SeaCrest Wealth Management LLC grew its stake in shares of Transocean by 268.4% in the third quarter. SeaCrest Wealth Management LLC now owns 49,641 shares of the offshore drilling services provider’s stock worth $123,000 after acquiring an additional 36,165 shares during the last quarter. Southern Capital Advisors LLC grew its stake in shares of Transocean by 34.5% in the fourth quarter. Southern Capital Advisors LLC now owns 19,500 shares of the offshore drilling services provider’s stock worth $89,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Nkcfo LLC acquired a new stake in shares of Transocean in the fourth quarter worth $319,000. Institutional investors own 55.16% of the company’s stock.

Insider Transactions at Transocean

In other news, CAO David A. Tonnel sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $6.53, for a total transaction of $78,360.00. Following the transaction, the chief accounting officer now directly owns 476,802 shares in the company, valued at $3,113,517.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Transocean news, Director Chad C. Deaton acquired 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were acquired at an average cost of $7.40 per share, for a total transaction of $222,000.00. Following the completion of the acquisition, the director now directly owns 141,000 shares of the company’s stock, valued at approximately $1,043,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David A. Tonnel sold 12,000 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $6.53, for a total transaction of $78,360.00. Following the completion of the transaction, the chief accounting officer now owns 476,802 shares in the company, valued at $3,113,517.06. The disclosure for this sale can be found here. 13.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Transocean from $4.00 to $8.00 in a research note on Tuesday, April 18th. Clarkson Capital upgraded shares of Transocean from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Tuesday, March 21st. Susquehanna upped their target price on shares of Transocean from $6.00 to $6.50 in a research note on Monday, April 3rd. Compass Point raised shares of Transocean from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a research note on Wednesday, March 22nd. Finally, BTIG Research upped their target price on shares of Transocean from $8.00 to $10.00 in a research note on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Transocean currently has an average rating of “Hold” and a consensus target price of $6.98.

Transocean Stock Up 3.4 %

NYSE:RIG opened at $6.47 on Thursday. Transocean Ltd. has a 12 month low of $2.32 and a 12 month high of $7.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.93. The company’s 50-day moving average price is $6.15 and its two-hundred day moving average price is $5.72.

Transocean (NYSE:RIG – Get Rating) last released its quarterly earnings results on Monday, May 1st. The offshore drilling services provider reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16). Transocean had a negative net margin of 34.53% and a negative return on equity of 6.80%. The firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.29 million. During the same quarter last year, the firm earned ($0.28) earnings per share. Transocean’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts predict that Transocean Ltd. will post -0.46 EPS for the current year.

Transocean Company Profile

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Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.