Transocean Ltd. (RIG) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC reduced its position in shares of Transocean Ltd. (NYSE:RIG) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,665 shares of the offshore drilling services provider’s stock after selling 324 shares during the period. Stoneridge Investment Partners LLC’s holdings in Transocean were worth $2,960,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of Transocean by 796.2% in the first quarter. Teachers Advisors LLC now owns 4,355,168 shares of the offshore drilling services provider’s stock worth $54,222,000 after buying an additional 3,869,219 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Transocean by 606.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 2,028,718 shares of the offshore drilling services provider’s stock worth $25,256,000 after buying an additional 1,741,410 shares during the last quarter. State Street Corp raised its stake in shares of Transocean by 8.2% in the first quarter. State Street Corp now owns 21,325,783 shares of the offshore drilling services provider’s stock worth $265,374,000 after buying an additional 1,615,383 shares during the last quarter. Pioneer Investment Management Inc. purchased a new stake in shares of Transocean during the first quarter worth about $19,157,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Transocean by 132.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,533,383 shares of the offshore drilling services provider’s stock worth $31,541,000 after buying an additional 1,441,566 shares during the last quarter. 67.32% of the stock is currently owned by institutional investors.

Shares of Transocean Ltd. (RIG) opened at 8.32 on Thursday. The stock’s market capitalization is $3.25 billion. The stock has a 50 day moving average of $8.41 and a 200-day moving average of $10.96. Transocean Ltd. has a one year low of $7.67 and a one year high of $16.66.

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RIG has been the topic of a number of research analyst reports. R. F. Lafferty cut their target price on Transocean from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, May 8th. Royal Bank Of Canada reissued a “sell” rating and issued a $13.00 target price on shares of Transocean in a research report on Monday, May 15th. Credit Suisse Group reissued a “buy” rating on shares of Transocean in a research report on Wednesday, July 19th. Sanford C. Bernstein downgraded shares of Transocean from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $16.50 to $9.00 in a research note on Thursday, July 6th. Finally, Odeon Capital Group LLC assumed coverage on shares of Transocean in a research note on Wednesday, May 17th. They issued a “sell” rating and a $8.00 price target for the company. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $12.73.

Transocean Company Profile

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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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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