Public Sector Pension investment Board decreased its stake in Transocean Ltd. (NYSE:RIG) by 51.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,584 shares of the offshore drilling services provider’s stock after selling 44,400 shares during the quarter. Public Sector Pension investment Board’s holdings in Transocean were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its stake in Transocean by 53.1% in the second quarter. Prudential Financial Inc. now owns 2,290,673 shares of the offshore drilling services provider’s stock valued at $18,853,000 after buying an additional 794,927 shares during the period. Principal Financial Group Inc. lifted its stake in Transocean by 6.5% in the first quarter. Principal Financial Group Inc. now owns 626,397 shares of the offshore drilling services provider’s stock valued at $7,798,000 after buying an additional 38,355 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in Transocean by 129.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock valued at $51,844,000 after buying an additional 3,556,281 shares during the period. OZ Management LP acquired a new position in Transocean in the second quarter valued at about $1,053,000. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in Transocean by 87.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,190,757 shares of the offshore drilling services provider’s stock valued at $9,800,000 after buying an additional 554,527 shares during the period. 67.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Transocean Ltd. (RIG) opened at 10.50 on Friday. The company has a 50-day moving average price of $9.40 and a 200-day moving average price of $9.58. The firm’s market cap is $4.11 billion. Transocean Ltd. has a 12 month low of $7.20 and a 12 month high of $16.66.
Several research firms have weighed in on RIG. Deutsche Bank AG began coverage on Transocean in a research note on Tuesday. They issued a “buy” rating and a $13.00 target price on the stock. Goldman Sachs Group, Inc. (The) raised Transocean from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.57 to $9.75 in a research note on Wednesday, August 9th. Nordea Equity Research reissued a “buy” rating and issued a $14.00 target price on shares of Transocean in a research note on Saturday, September 30th. Royal Bank Of Canada set a $11.00 target price on Transocean and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, ValuEngine lowered Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the stock. The company 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 company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $7.32 per share, with a total value of $292,800.00. Following the purchase, the chief accounting officer now owns 21,793 shares in the company, valued at $159,524.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION WARNING: This piece of content was first posted by Ticker Report and is owned by of Ticker Report. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/2956892/public-sector-pension-investment-board-has-350000-holdings-in-transocean-ltd-rig.html.
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).
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.