Teacher Retirement System of Texas Sells 22,025 Shares of Transocean Ltd. (NYSE:RIG)

Teacher Retirement System of Texas reduced its stake in shares of Transocean Ltd. (NYSE:RIGFree Report) by 41.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,701 shares of the offshore drilling services provider’s stock after selling 22,025 shares during the period. Teacher Retirement System of Texas’ holdings in Transocean were worth $201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. VisionPoint Advisory Group LLC acquired a new position in shares of Transocean in the fourth quarter worth approximately $28,000. First Western Trust Bank bought a new position in Transocean during the fourth quarter worth $76,000. SCP Investment LP bought a new stake in Transocean during the fourth quarter valued at $419,000. Private Advisor Group LLC grew its holdings in Transocean by 30.0% during the 4th quarter. Private Advisor Group LLC now owns 43,380 shares of the offshore drilling services provider’s stock worth $275,000 after acquiring an additional 10,009 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Transocean by 11.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock worth $176,000 after acquiring an additional 2,743 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Trading Down 0.8 %

Shares of RIG stock opened at $5.89 on Friday. Transocean Ltd. has a 52-week low of $4.45 and a 52-week high of $8.88. The company has a 50-day simple moving average of $5.98 and a two-hundred day simple moving average of $5.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.04 and a current ratio of 1.35. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -11.33 and a beta of 2.83.

Transocean (NYSE:RIGGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The offshore drilling services provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Transocean had a negative return on equity of 4.67% and a negative net margin of 13.27%. The company had revenue of $767.00 million during the quarter, compared to the consensus estimate of $781.86 million. During the same period last year, the business posted ($0.38) earnings per share. Transocean’s revenue was up 18.2% on a year-over-year basis.

Insider Activity

In related news, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of Transocean stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average price of $6.01 per share, for a total transaction of $12,020,000.00. Following the completion of the transaction, the director now owns 87,574,894 shares in the company, valued at $526,325,112.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RIG. Bank of America lifted their price objective on shares of Transocean from $5.50 to $6.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Susquehanna upgraded Transocean from a “neutral” rating to a “positive” rating and raised their target price for the company from $5.50 to $9.00 in a research note on Monday, April 8th. Morgan Stanley dropped their price target on Transocean from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. StockNews.com upgraded Transocean to a “sell” rating in a report on Tuesday, February 20th. Finally, Evercore ISI cut their target price on Transocean from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Transocean has a consensus rating of “Hold” and an average target price of $7.70.

View Our Latest Stock Report on Transocean

About Transocean

(Free Report)

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.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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