State of New Jersey Common Pension Fund D Has $1.87 Million Stake in Transocean Ltd. (NYSE:RIG)

State of New Jersey Common Pension Fund D lifted its stake in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 25.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 499,801 shares of the offshore drilling services provider's stock after purchasing an additional 100,691 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Transocean worth $1,874,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Primecap Management Co. CA raised its position in shares of Transocean by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider's stock worth $239,454,000 after buying an additional 222,680 shares in the last quarter. State Street Corp increased its stake in shares of Transocean by 11.0% during the third quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider's stock valued at $83,275,000 after acquiring an additional 1,944,723 shares during the period. Pilgrim Global Advisors LLC bought a new stake in Transocean during the third quarter worth approximately $77,473,000. Geode Capital Management LLC lifted its position in Transocean by 4.1% in the third quarter. Geode Capital Management LLC now owns 17,245,298 shares of the offshore drilling services provider's stock worth $73,307,000 after purchasing an additional 680,242 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Transocean by 33.9% during the 4th quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider's stock valued at $57,727,000 after purchasing an additional 3,895,880 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

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Transocean Stock Performance

RIG stock traded down $0.09 on Friday, reaching $2.96. 32,352,312 shares of the company were exchanged, compared to its average volume of 28,544,736. The firm has a market capitalization of $2.60 billion, a PE ratio of -4.05, a PEG ratio of 0.86 and a beta of 2.70. Transocean Ltd. has a 12 month low of $2.95 and a 12 month high of $6.88. The stock's fifty day moving average price is $3.75 and its 200 day moving average price is $4.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34.

Transocean (NYSE:RIG - Get Free Report) last posted its quarterly earnings data on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $952.00 million for the quarter, compared to the consensus estimate of $962.28 million. On average, research analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RIG has been the topic of several research reports. StockNews.com raised Transocean to a "sell" rating in a research report on Tuesday, November 12th. Susquehanna cut their price objective on shares of Transocean from $7.00 to $6.50 and set a "positive" rating on the stock in a research report on Friday, November 1st. Benchmark reissued a "hold" rating on shares of Transocean in a research report on Tuesday, December 3rd. Evercore ISI downgraded shares of Transocean from an "outperform" rating to an "in-line" rating and cut their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. Finally, TD Cowen reduced their price objective on shares of Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.75.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the transaction, the executive vice president now owns 313,072 shares in the company, valued at $1,205,327.20. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.16% of the company's stock.

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.