South Dakota Investment Council purchased a new position in shares of Transocean Ltd. (NYSE:RIG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 130,000 shares of the offshore drilling services provider’s stock, valued at approximately $1,399,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Transocean by 0.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,052 shares of the offshore drilling services provider’s stock worth $239,000 after purchasing an additional 175 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Transocean by 0.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,298 shares of the offshore drilling services provider’s stock worth $406,000 after purchasing an additional 226 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in Transocean by 2.4% during the second quarter. Thrivent Financial For Lutherans now owns 14,840 shares of the offshore drilling services provider’s stock worth $122,000 after purchasing an additional 350 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Transocean by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock worth $200,000 after purchasing an additional 400 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in Transocean by 0.5% during the second quarter. Stifel Financial Corp now owns 81,518 shares of the offshore drilling services provider’s stock worth $664,000 after purchasing an additional 410 shares in the last quarter. 70.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Transocean Ltd. (NYSE:RIG) traded down $0.17 during midday trading on Monday, reaching $10.07. 4,887,700 shares of the company were exchanged, compared to its average volume of 13,931,673. Transocean Ltd. has a 1 year low of $7.20 and a 1 year high of $16.66. The firm has a market capitalization of $3,939.51, a price-to-earnings ratio of 12.59 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 2.36.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. The company had revenue of $808.00 million for the quarter, compared to the consensus estimate of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. Transocean’s revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. analysts anticipate that Transocean Ltd. will post -0.32 EPS for the current fiscal year.

Several research firms recently issued reports on RIG. Goldman Sachs Group Inc raised shares of Transocean from a “sell” rating to a “neutral” rating and increased their price target for the stock from $8.57 to $9.75 in a report on Wednesday, August 9th. Instinet reissued a “reduce” rating and set a $7.00 price target (down from $8.00) on shares of Transocean in a report on Saturday, August 19th. Evercore ISI reissued a “buy” rating and set a $18.00 price target on shares of Transocean in a report on Thursday, August 10th. Nordea Equity Research reissued a “buy” rating and set a $14.00 price target on shares of Transocean in a report on Saturday, September 30th. Finally, Bank of America Corporation raised shares of Transocean from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $7.00 to $9.00 in a report on Tuesday, August 15th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company. Transocean currently has a consensus rating of “Hold” and an average price target of $12.31.

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About Transocean

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units.

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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