Profund Advisors LLC lowered its position in Transocean Ltd. (NYSE:RIG) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,820 shares of the offshore drilling services provider’s stock after selling 4,201 shares during the quarter. Profund Advisors LLC’s holdings in Transocean were worth $262,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia bought a new position in shares of Transocean in the first quarter worth $604,000. FNY Partners Fund LP bought a new position in shares of Transocean in the first quarter worth $108,000. Ameritas Investment Partners Inc. bought a new position in shares of Transocean in the first quarter worth $116,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Transocean in the first quarter worth $132,000. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after purchasing an additional 1,394 shares during the period. 67.81% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CAO Howard E. Davis acquired 40,000 shares of the stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $7.32 per share, with a total value of $292,800.00. Following the transaction, the chief accounting officer now directly owns 21,793 shares in the company, valued at $159,524.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.
Several research analysts have recently weighed in on the stock. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised shares of Transocean from a “sell” rating to a “neutral” rating and upped their price target for the stock from $8.57 to $9.75 in a report on Wednesday, August 9th. Seaport Global Securities reaffirmed a “sell” rating on shares of Transocean in a report on Wednesday, July 26th. Finally, ValuEngine cut shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday. Ten investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. Transocean has a consensus rating of “Hold” and a consensus target price of $12.62.
Shares of Transocean Ltd. (RIG) opened at 10.61 on Thursday. The stock’s market capitalization is $4.15 billion. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.66. The firm has a 50-day moving average of $9.32 and a 200 day moving average of $9.57.
Transocean Company Profile
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.
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