State Street Corp grew its holdings in Transocean Ltd. (NYSE:RIG) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,918,962 shares of the offshore drilling services provider’s stock after acquiring an additional 1,593,179 shares during the period. State Street Corp owned about 5.86% of Transocean worth $188,616,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado raised its position in Transocean by 12.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after acquiring an additional 1,394 shares during the period. FNY Partners Fund LP acquired a new position in Transocean during the first quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. acquired a new position in Transocean during the second quarter worth $111,000. Advisor Partners LLC acquired a new position in Transocean during the second quarter worth $112,000. Finally, Dupont Capital Management Corp acquired a new position in Transocean during the second quarter worth $113,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.
Transocean Ltd. (NYSE:RIG) traded up 1.57% on Friday, hitting $10.33. The stock had a trading volume of 14,060,960 shares. The company’s market cap is $4.04 billion. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.66. The stock has a 50-day moving average of $9.92 and a 200-day moving average of $9.43.
In other Transocean news, CAO Howard E. Davis acquired 40,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $7.32 per share, for a total transaction of $292,800.00. Following the transaction, the chief accounting officer now owns 21,793 shares in the company, valued at approximately $159,524.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.
A number of brokerages recently issued reports on RIG. Zacks Investment Research lowered shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BMO Capital Markets set a $7.00 target price on shares of Transocean and gave the stock a “sell” rating in a research note on Wednesday, October 18th. Nordea Equity Research reaffirmed a “buy” rating and set a $14.00 target price on shares of Transocean in a research note on Saturday, September 30th. Citigroup Inc. raised shares of Transocean from a “neutral” rating to a “buy” rating and raised their price objective for the company from $13.00 to $14.00 in a research note on Thursday, October 12th. Finally, Royal Bank Of Canada set a $11.00 price objective on shares of Transocean and gave the company a “hold” rating in a research note on Thursday, October 5th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $12.18.
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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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