Edmond DE Rothschild Holding S.A. boosted its holdings in Transocean Ltd. (NYSE:RIG) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 150,700 shares of the offshore drilling services provider’s stock after acquiring an additional 7,000 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Transocean were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado grew its stake in Transocean by 12.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after acquiring an additional 1,394 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Transocean in the 1st quarter valued at about $108,000. WFG Advisors LP grew its stake in Transocean by 40.7% in the 1st quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock valued at $110,000 after acquiring an additional 2,562 shares during the last quarter. Advisor Partners LLC acquired a new stake in Transocean in the 2nd quarter valued at about $112,000. Finally, Dupont Capital Management Corp acquired a new stake in Transocean in the 2nd quarter valued at about $113,000. 67.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Transocean Ltd. (NYSE RIG) opened at 9.24 on Friday. The firm’s market cap is $3.61 billion. Transocean Ltd. has a 12 month low of $7.20 and a 12 month high of $16.66. The firm has a 50-day moving average of $8.36 and a 200 day moving average of $9.93.
A number of equities research analysts recently commented on RIG shares. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Wednesday, August 2nd. Credit Suisse Group reissued a “buy” rating on shares of Transocean in a research note on Wednesday, July 19th. Evercore ISI reissued a “buy” rating and issued a $18.00 price objective on shares of Transocean in a research note on Thursday, August 10th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Transocean has an average rating of “Hold” and a consensus target price of $12.21.
In related news, CAO Howard E. Davis bought 40,000 shares of Transocean stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the acquisition, the chief accounting officer now owns 21,793 shares in the company, valued at $159,524.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by insiders.
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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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