Charles Schwab Investment Management Inc. Grows Stock Holdings in Transocean Ltd. (NYSE:RIG)

Charles Schwab Investment Management Inc. lifted its position in Transocean Ltd. (NYSE:RIG - Free Report) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,606,320 shares of the offshore drilling services provider's stock after purchasing an additional 826,229 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.33% of Transocean worth $49,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider's stock valued at $196,484,000 after purchasing an additional 5,856,414 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Transocean in the 2nd quarter valued at about $16,179,000. American Century Companies Inc. lifted its position in Transocean by 24.3% in the second 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 buying an additional 2,623,615 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Transocean by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider's stock worth $90,192,000 after buying an additional 2,606,017 shares during the period. Finally, Kailix Advisors LLC increased its position in shares of Transocean by 59.9% during the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider's stock valued at $28,137,000 after acquiring an additional 2,481,059 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RIG shares. Benchmark cut shares of Transocean from a "buy" rating to a "hold" rating in a research report on Tuesday, October 15th. Barclays lowered their price target 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. Morgan Stanley boosted their price objective on Transocean from $5.00 to $6.00 and gave the company an "equal weight" rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Transocean to a "sell" rating in a report on Tuesday, November 12th. Finally, Susquehanna reduced their price objective on Transocean from $7.00 to $6.50 and set a "positive" rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.43.

Insiders Place Their Bets

In related news, EVP Roderick James Mackenzie sold 20,000 shares of the company'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 sale, the executive vice president now directly owns 310,857 shares of the company's stock, valued at $1,333,576.53. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Perestroika purchased 1,500,000 shares of the business's stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the transaction, the director now owns 91,074,894 shares of the company's stock, valued at $376,139,312.22. This trade represents a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.16% of the stock is owned by corporate insiders.

Transocean Stock Up 2.3 %

Shares of NYSE RIG traded up $0.10 during midday trading on Friday, hitting $4.40. 6,855,704 shares of the company's stock were exchanged, compared to its average volume of 18,208,976. The firm's fifty day simple moving average is $4.31 and its 200-day simple moving average is $4.89. The company has a market cap of $3.85 billion, a PE ratio of -5.87 and a beta of 2.78. Transocean Ltd. has a twelve month low of $3.85 and a twelve month high of $6.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Transocean 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.