Barclays PLC Raises Stake in Transocean Ltd. (NYSE:RIG)

Barclays PLC lifted its position in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 60.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,623,924 shares of the offshore drilling services provider's stock after purchasing an additional 609,681 shares during the quarter. Barclays PLC owned 0.19% of Transocean worth $6,902,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Pilgrim Global Advisors LLC acquired a new position in Transocean during the third quarter worth $77,473,000. Dimensional Fund Advisors LP raised its holdings in shares of Transocean by 19.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider's stock worth $196,484,000 after acquiring an additional 5,856,414 shares during the last quarter. American Century Companies Inc. lifted its position in Transocean by 24.3% in the 2nd quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider's stock valued at $71,891,000 after acquiring an additional 2,623,615 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Transocean by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider's stock valued at $90,192,000 after purchasing an additional 2,606,017 shares during the last quarter. Finally, Kailix Advisors LLC increased its holdings in Transocean by 59.9% during the 3rd quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider's stock worth $28,137,000 after purchasing an additional 2,481,059 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.29, for a total value of $85,800.00. Following the sale, the executive vice president now owns 310,857 shares of the company's stock, valued at $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RIG shares. Morgan Stanley raised their target price on Transocean from $5.00 to $6.00 and gave the company an "equal weight" rating in a report on Thursday, October 3rd. Benchmark restated a "hold" rating on shares of Transocean in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of Transocean from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a research note on Friday, December 6th. Barclays raised shares of Transocean from an "equal weight" rating to an "overweight" rating and set a $4.50 price target on the stock in a research report on Wednesday. Finally, StockNews.com upgraded shares of Transocean to a "sell" rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $6.25.

Transocean Stock Performance

RIG traded down $0.07 during midday trading on Thursday, reaching $3.55. The company had a trading volume of 29,553,527 shares, compared to its average volume of 18,714,623. Transocean Ltd. has a 12-month low of $3.53 and a 12-month high of $6.88. The business has a 50-day moving average price of $4.21 and a two-hundred day moving average price of $4.71. The stock has a market cap of $3.11 billion, a PE ratio of -4.73 and a beta of 2.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64.

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.