Transocean Ltd. (RIG) Holdings Raised by Norinchukin Bank The
Norinchukin Bank The grew its holdings in Transocean Ltd. (NYSE:RIG) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,137 shares of the offshore drilling services provider’s stock after acquiring an additional 1,839 shares during the quarter. Norinchukin Bank The’s holdings in Transocean were worth $223,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Seven Eight Capital LP acquired a new stake in Transocean in the second quarter worth about $154,000. Riverhead Capital Management LLC lifted its holdings in shares of Transocean by 3.3% during the second quarter. Riverhead Capital Management LLC now owns 267,229 shares of the offshore drilling services provider’s stock worth $2,199,000 after purchasing an additional 8,649 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Transocean by 1.4% during the second quarter. Alliancebernstein L.P. now owns 607,549 shares of the offshore drilling services provider’s stock worth $5,000,000 after purchasing an additional 8,207 shares during the period. Systematic Financial Management LP lifted its holdings in shares of Transocean by 86.4% during the second quarter. Systematic Financial Management LP now owns 214,500 shares of the offshore drilling services provider’s stock worth $1,765,000 after purchasing an additional 99,455 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in shares of Transocean by 821.9% during the second quarter. Engineers Gate Manager LP now owns 386,853 shares of the offshore drilling services provider’s stock worth $3,184,000 after purchasing an additional 344,889 shares during the period. 67.81% of the stock is owned by institutional investors and hedge funds.
Shares of Transocean Ltd. (NYSE RIG) opened at 9.08 on Friday. Transocean Ltd. has a 12 month low of $7.20 and a 12 month high of $16.66. The company’s 50 day moving average price is $8.40 and its 200 day moving average price is $9.81. The stock’s market capitalization is $3.55 billion.
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RIG has been the subject of a number of research reports. Evercore ISI reaffirmed a “buy” rating and set a $18.00 target price on shares of Transocean in a report on Thursday, August 10th. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Wednesday, August 2nd. Credit Suisse Group reaffirmed a “buy” rating on shares of Transocean in a report on Wednesday, July 19th. ValuEngine raised Transocean from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Pareto Securities raised Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $12.21.
In other news, CAO Howard E. Davis acquired 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, with a total value of $292,800.00. Following the completion of the acquisition, the chief accounting officer now owns 21,793 shares in the company, valued at approximately $159,524.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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