Point View Wealth Management Inc. lessened its holdings in shares of Transocean LTD (NYSE:RIG) by 37.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,666 shares of the offshore drilling services provider’s stock after selling 8,870 shares during the quarter. Point View Wealth Management Inc.’s holdings in Transocean were worth $101,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of RIG. BlackRock Inc. grew its holdings in shares of Transocean by 2.9% in the second quarter. BlackRock Inc. now owns 48,524,391 shares of the offshore drilling services provider’s stock valued at $311,041,000 after purchasing an additional 1,375,500 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Transocean by 83.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 102,257 shares of the offshore drilling services provider’s stock valued at $457,000 after buying an additional 46,394 shares during the period. Pacer Advisors Inc. purchased a new position in Transocean in the 3rd quarter valued at approximately $924,000. NuWave Investment Management LLC boosted its position in Transocean by 600.5% in the 3rd quarter. NuWave Investment Management LLC now owns 8,203 shares of the offshore drilling services provider’s stock valued at $36,000 after buying an additional 7,032 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Transocean by 6.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 2,064,802 shares of the offshore drilling services provider’s stock worth $9,230,000 after acquiring an additional 132,874 shares in the last quarter. 70.65% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on RIG. Deutsche Bank began coverage on Transocean in a research report on Wednesday, November 27th. They set a “sell” rating and a $3.00 price objective on the stock. ValuEngine upgraded Transocean from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Fearnley Fonds lowered Transocean from a “buy” rating to a “hold” rating and set a $6.00 target price for the company. in a report on Monday, October 21st. Bernstein Bank assumed coverage on Transocean in a research note on Tuesday, January 14th. They set an “underperform” rating and a $2.90 target price for the company. Finally, Sanford C. Bernstein assumed coverage on Transocean in a report on Monday, January 13th. They set an “underperform” rating and a $2.90 price target on the stock. Five analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $7.38.
In other news, SVP David A. Tonnel sold 10,000 shares of Transocean stock in a transaction on Monday, February 10th. The shares were sold at an average price of $4.68, for a total transaction of $46,800.00. Following the completion of the sale, the senior vice president now directly owns 119,083 shares of the company’s stock, valued at approximately $557,308.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.05% of the stock is currently owned by insiders.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers drilling rigs, related equipment, and work crews; and ultra-deepwater and harsh environment drilling services. As of February 18, 2019, it owned or had partial ownership interests in, and operated 48 mobile offshore drilling units that consist of 31 ultra-deepwater floaters, 13 harsh environment floaters, and 4 midwater floaters.
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