128,000 Shares in Transocean Ltd. (RIG) Acquired by OZ Management LP
OZ Management LP acquired a new stake in Transocean Ltd. (NYSE:RIG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 128,000 shares of the offshore drilling services provider’s stock, valued at approximately $1,053,000.
Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its stake in Transocean by 12.7% in 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 last quarter. FNY Partners Fund LP acquired a new position in shares of Transocean during the first quarter valued at approximately $108,000. WFG Advisors LP increased its position in shares of Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock valued at $110,000 after buying an additional 2,562 shares during the period. Advisor Partners LLC acquired a new position in shares of Transocean during the second quarter valued at approximately $112,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Transocean during the second quarter valued at approximately $113,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.
Transocean Ltd. (NYSE:RIG) traded down 1.640% during midday trading on Wednesday, hitting $8.095. The stock had a trading volume of 2,310,748 shares. The company’s market cap is $3.17 billion. The stock’s 50 day moving average price is $8.28 and its 200-day moving average price is $10.42. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66.
A number of research firms have recently issued reports on RIG. UBS AG reissued a “neutral” rating and set a $12.00 price target (down previously from $15.00) on shares of Transocean in a research report on Friday, May 5th. Instinet reaffirmed a “reduce” rating and set a $7.00 price objective (down previously from $8.00) on shares of Transocean in a research report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) upgraded Transocean from a “sell” rating to a “neutral” rating and increased their price target for the company from $8.57 to $9.75 in a research note on Wednesday, August 9th. Royal Bank Of Canada upgraded Transocean from an “underperform” rating to a “sector perform” rating and set a $11.00 price target for the company in a research note on Friday, August 25th. Finally, Evercore ISI reiterated a “buy” rating and issued a $18.00 price target on shares of Transocean in a research note on Thursday, August 10th. Ten equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. Transocean has an average rating of “Hold” and a consensus price target of $12.37.
In other news, CAO Howard E. Davis acquired 40,000 shares of Transocean stock in a transaction dated Thursday, August 17th. The shares were bought 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 approximately $159,524.76. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.
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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