Transocean Ltd. (RIG) Shares Bought by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. increased its position in Transocean Ltd. (NYSE:RIG) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 336,904 shares of the offshore drilling services provider’s stock after buying an additional 1,311 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Transocean worth $2,772,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of RIG. Capstone Asset Management Co. increased its stake in Transocean by 12.7% in the first quarter. Capstone Asset Management Co. now owns 73,330 shares of the offshore drilling services provider’s stock worth $913,000 after buying an additional 8,270 shares during the period. Regentatlantic Capital LLC increased its stake in Transocean by 24.6% in the first quarter. Regentatlantic Capital LLC now owns 51,954 shares of the offshore drilling services provider’s stock worth $647,000 after buying an additional 10,270 shares during the period. Creative Planning increased its stake in Transocean by 3.0% in the first quarter. Creative Planning now owns 237,259 shares of the offshore drilling services provider’s stock worth $2,954,000 after buying an additional 6,975 shares during the period. Contravisory Investment Management Inc. bought a new stake in Transocean during the first quarter worth about $206,000. Finally, Highbridge Capital Management LLC increased its stake in Transocean by 249.6% in the fourth quarter. Highbridge Capital Management LLC now owns 41,436 shares of the offshore drilling services provider’s stock worth $610,000 after buying an additional 29,584 shares during the period. Institutional investors and hedge funds own 67.53% of the company’s stock.
Transocean Ltd. (RIG) opened at 8.51 on Tuesday. Transocean Ltd. has a 52-week low of $7.67 and a 52-week high of $16.66. The stock has a 50 day moving average of $8.41 and a 200-day moving average of $11.49. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 5.12 and a beta of 1.67.
Transocean (NYSE:RIG) last posted its quarterly earnings results on Wednesday, May 3rd. The offshore drilling services provider reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. Transocean had a return on equity of 2.57% and a net margin of 17.28%. The business had revenue of $785 million during the quarter, compared to the consensus estimate of $737.51 million. On average, equities research analysts anticipate that Transocean Ltd. will post ($0.43) earnings per share for the current fiscal year.
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A number of analysts recently issued reports on the stock. Jefferies Group LLC restated a “hold” rating and set a $14.00 price objective (up previously from $13.00) on shares of Transocean in a report on Tuesday, April 11th. Deutsche Bank AG decreased their price objective on shares of Transocean from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, April 18th. BMO Capital Markets restated a “sell” rating and set a $10.00 price objective on shares of Transocean in a report on Tuesday, April 18th. Credit Suisse Group set a $18.00 price objective on shares of Transocean and gave the stock a “buy” rating in a report on Thursday, April 20th. Finally, Royal Bank Of Canada restated an “underperform” rating and set a $15.00 price objective on shares of Transocean in a report on Tuesday, April 25th. Fifteen equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. Transocean has an average rating of “Hold” and a consensus target price of $12.86.
In other Transocean news, SVP David A. Tonnel sold 9,450 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $11.28, for a total value of $106,596.00. Following the completion of the transaction, the senior vice president now directly owns 54,845 shares in the company, valued at approximately $618,651.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.
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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