BlueCrest Capital Management Ltd boosted its holdings in shares of Transocean Ltd. (NYSE:RIG) by 17.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,000 shares of the offshore drilling services provider’s stock after buying an additional 18,000 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Transocean were worth $1,004,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Transocean by 2.4% during the first quarter. Vanguard Group Inc. now owns 40,938,941 shares of the offshore drilling services provider’s stock worth $509,689,000 after buying an additional 967,011 shares during the last quarter. BlackRock Inc. increased its position in Transocean by 12.1% during the second quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock worth $210,185,000 after buying an additional 2,756,207 shares during the last quarter. State Street Corp increased its position in Transocean by 7.5% during the second quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock worth $188,616,000 after buying an additional 1,593,179 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Transocean by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 12,593,894 shares of the offshore drilling services provider’s stock worth $103,650,000 after buying an additional 210,390 shares during the last quarter. Finally, Contrarius Investment Management Ltd increased its position in Transocean by 96.8% during the second quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock worth $80,160,000 after buying an additional 4,790,469 shares during the last quarter. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Transocean Ltd. (NYSE:RIG) opened at 10.86 on Friday. Transocean Ltd. has a 12-month low of $7.20 and a 12-month high of $16.66. The firm’s market cap is $4.25 billion. The stock’s 50 day moving average is $9.50 and its 200 day moving average is $9.57.

Several equities analysts have commented on the stock. Jefferies Group LLC set a $12.00 target price on shares of Transocean and gave the stock a “hold” rating in a research report on Saturday, July 1st. Nomura lowered their target price on shares of Transocean from $8.00 to $7.00 and set a “reduce” rating on the stock in a research report on Thursday, August 17th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Pareto Securities upgraded shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $11.00 price target on shares of Transocean in a report on Friday, September 1st. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company. Transocean presently has an average rating of “Hold” and a consensus target price of $12.67.

In other news, CAO Howard E. Davis purchased 40,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $7.32 per share, with a total value of $292,800.00. Following the acquisition, the chief accounting officer now owns 21,793 shares in the company, valued at approximately $159,524.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/10/14/bluecrest-capital-management-ltd-has-1-million-holdings-in-transocean-ltd-rig.html.

About Transocean

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.

Want to see what other hedge funds are holding RIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Transocean Ltd. (NYSE:RIG).

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

Receive News & Ratings for Transocean Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.