Regentatlantic Capital LLC trimmed its holdings in shares of Transocean Ltd. (NYSE:RIG) by 66.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,144 shares of the offshore drilling services provider’s stock after selling 25,940 shares during the period. Regentatlantic Capital LLC’s holdings in Transocean were worth $141,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of RIG. Public Employees Retirement Association of Colorado boosted 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 valued at $102,000 after buying an additional 1,394 shares during the period. FNY Partners Fund LP purchased a new stake in Transocean during the first quarter valued at about $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in Transocean during the second quarter valued at about $111,000. Advisor Partners LLC purchased a new stake in Transocean during the second quarter valued at about $112,000. Finally, Dupont Capital Management Corp purchased a new stake in Transocean during the second quarter valued at about $113,000. Institutional investors and hedge funds own 68.65% of the company’s stock.
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 price of $7.32 per share, for a total transaction of $292,800.00. Following the purchase, the chief accounting officer now directly owns 21,793 shares in the company, valued at approximately $159,524.76. The purchase 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.
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Transocean Ltd. (NYSE:RIG) traded up 0.818% during midday trading on Tuesday, hitting $10.475. 2,162,039 shares of the stock were exchanged. Transocean Ltd. has a 12 month low of $7.20 and a 12 month high of $16.66. The company’s market cap is $4.10 billion. The firm’s 50 day moving average price is $10.05 and its 200 day moving average price is $9.37.
RIG has been the subject of several analyst reports. Clarkson Capital upgraded shares of Transocean from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Friday, September 1st. Credit Suisse Group restated a “buy” rating on shares of Transocean in a research report on Wednesday, July 19th. R. F. Lafferty set a $15.00 price target on shares of Transocean and gave the company a “buy” rating in a research report on Saturday, August 26th. Sanford C. Bernstein lowered shares of Transocean from an “outperform” rating to a “market perform” rating and cut their price target for the company from $16.50 to $9.00 in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, October 3rd. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.18.
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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