State Street Corp Acquires 1,944,723 Shares of Transocean Ltd. (NYSE:RIG)

State Street Corp raised its holdings in Transocean Ltd. (NYSE:RIG) by 11.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 19,594,121 shares of the offshore drilling services provider’s stock after purchasing an additional 1,944,723 shares during the quarter. State Street Corp’s holdings in Transocean were worth $83,275,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after purchasing an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Transocean in the 2nd quarter valued at $30,000. SG Americas Securities LLC bought a new position in Transocean in the 2nd quarter valued at $64,000. Atria Investments Inc bought a new stake in shares of Transocean during the third quarter worth $51,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Transocean during the third quarter worth $68,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the transaction, the executive vice president now directly owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.16% of the company’s stock.

Transocean Stock Down 3.2 %

Shares of Transocean stock opened at $3.74 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 12 month low of $3.70 and a 12 month high of $6.88. The business has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $4.74. The stock has a market cap of $3.27 billion, a PE ratio of -4.98 and a beta of 2.75.

Analyst Ratings Changes

A number of research firms have recently weighed in on RIG. Barclays dropped their target price on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Susquehanna dropped their target price on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. Benchmark restated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Finally, DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Transocean presently has a consensus rating of “Hold” and a consensus price target of $6.25.

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.