Dimensional Fund Advisors LP Buys 266,743 Shares of Transocean Ltd. (NYSE:RIG)

Dimensional Fund Advisors LP raised its stake in shares of Transocean Ltd. (NYSE:RIG) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,812,807 shares of the offshore drilling services provider’s stock after purchasing an additional 266,743 shares during the quarter. Dimensional Fund Advisors LP owned 2.59% of Transocean worth $138,867,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in RIG. Archer Investment Corp boosted its position in shares of Transocean by 8,124.0% during the 1st quarter. Archer Investment Corp now owns 4,112 shares of the offshore drilling services provider’s stock valued at $26,000 after acquiring an additional 4,062 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Transocean by 446.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,996 shares of the offshore drilling services provider’s stock valued at $27,000 after acquiring an additional 8,984 shares in the last quarter. Miller Wealth Advisors LLC boosted its position in shares of Transocean by 9,900.0% during the 2nd quarter. Miller Wealth Advisors LLC now owns 5,000 shares of the offshore drilling services provider’s stock valued at $35,000 after acquiring an additional 4,950 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Transocean by 38.8% during the 3rd quarter. IHT Wealth Management LLC now owns 16,895 shares of the offshore drilling services provider’s stock valued at $42,000 after acquiring an additional 4,719 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Transocean by 42.1% during the 1st quarter. CWM LLC now owns 6,747 shares of the offshore drilling services provider’s stock valued at $43,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 66.70% of the company’s stock.

Transocean Price Performance

Shares of RIG stock opened at $6.39 on Tuesday. Transocean Ltd. has a 1 year low of $3.65 and a 1 year high of $8.88. The firm’s 50 day moving average is $7.40 and its 200-day moving average is $7.29. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of -3.94 and a beta of 2.96. The company has a current ratio of 1.67, a quick ratio of 1.32 and a debt-to-equity ratio of 0.68.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, October 30th. The offshore drilling services provider reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.14). The business had revenue of $713.00 million for the quarter, compared to the consensus estimate of $738.22 million. Transocean had a negative return on equity of 9.76% and a negative net margin of 44.49%. During the same period last year, the firm earned ($0.06) earnings per share. Sell-side analysts forecast that Transocean Ltd. will post -0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Transocean in a research report on Friday, September 15th. Morgan Stanley boosted their price target on shares of Transocean from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 17th. Citigroup boosted their price target on shares of Transocean from $9.50 to $10.50 and gave the company a “buy” rating in a research report on Tuesday, September 12th. Piper Sandler boosted their price target on shares of Transocean from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. Finally, BTIG Research boosted their price target on shares of Transocean from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Transocean presently has an average rating of “Hold” and an average target price of $8.89.

Insider Buying and Selling

In related news, CAO David A. Tonnel sold 57,259 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $8.22, for a total transaction of $470,668.98. Following the completion of the sale, the chief accounting officer now directly owns 417,789 shares of the company’s stock, valued at $3,434,225.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.16% of the stock is currently owned by insiders.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It serves integrated energy companies, government-owned or government-controlled energy companies, and other independent energy companies.