Flinton Capital Management LLC Has $2.24 Million Position in Transocean Ltd. (RIG)
Flinton Capital Management LLC increased its position in shares of Transocean Ltd. (NYSE:RIG) by 3.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 272,544 shares of the offshore drilling services provider’s stock after buying an additional 8,874 shares during the period. Flinton Capital Management LLC owned 0.07% of Transocean worth $2,243,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its stake 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 buying an additional 1,394 shares during the last quarter. FNY Partners Fund LP bought a new position in Transocean during the first quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. bought a new position in Transocean during the second quarter worth $111,000. Advisor Partners LLC bought a new position in Transocean during the second quarter worth $112,000. Finally, Dupont Capital Management Corp bought a new position in Transocean during the second quarter worth $113,000. 67.81% of the stock is owned by institutional investors and hedge funds.
Transocean Ltd. (NYSE:RIG) traded down 2.37% on Friday, reaching $10.29. 2,997,705 shares of the company traded hands. The company’s market capitalization is $4.03 billion. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.66. The stock’s 50 day moving average price is $8.97 and its 200 day moving average price is $9.64.
In other news, CAO Howard E. Davis acquired 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.
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A number of brokerages recently weighed in on RIG. Royal Bank Of Canada set a $11.00 target price on shares of Transocean and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday. Nordea Equity Research reissued a “buy” rating and set a $14.00 target price on shares of Transocean in a research note on Saturday, September 30th. UBS AG raised shares of Transocean from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $15.00 in a research note on Monday, September 25th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $9.00 target price on shares of Transocean in a research note on Friday, September 22nd. Ten analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company’s stock. Transocean has a consensus rating of “Hold” and a consensus price target of $12.41.
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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