Penn Capital Management Co. Inc. Has $1.64 Million Holdings in Transocean Ltd. (RIG)
Penn Capital Management Co. Inc. raised its holdings in shares of Transocean Ltd. (NYSE:RIG) by 116.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,437 shares of the offshore drilling services provider’s stock after acquiring an additional 105,631 shares during the quarter. Penn Capital Management Co. Inc. owned about 0.05% of Transocean worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of RIG. Public Employees Retirement Association of Colorado raised its holdings in Transocean by 12.7% during the 2nd 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 acquiring an additional 1,394 shares during the period. FNY Partners Fund LP bought a new stake in Transocean during the 1st quarter valued at $108,000. WFG Advisors LP raised its holdings in Transocean by 40.7% during the 1st quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock valued at $110,000 after acquiring an additional 2,562 shares during the period. Advisor Partners LLC bought a new stake in Transocean during the 2nd quarter valued at $112,000. Finally, Dupont Capital Management Corp bought a new stake in Transocean during the 2nd quarter valued at $113,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.
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A number of equities research analysts have issued reports on the stock. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised shares of Transocean from a “sell” rating to a “neutral” rating and boosted their target price for the company from $8.57 to $9.75 in a report on Wednesday, August 9th. Seaport Global Securities reissued a “sell” rating on shares of Transocean in a report on Wednesday, July 26th. Finally, BidaskClub raised shares of Transocean from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.21.
Shares of Transocean Ltd. (RIG) opened at 9.32 on Friday. The stock’s 50 day moving average is $8.40 and its 200-day moving average is $9.81. The stock’s market capitalization is $3.65 billion. Transocean Ltd. has a 12-month low of $7.20 and a 12-month high of $16.66.
In other news, CAO Howard E. Davis purchased 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, for a total transaction of $292,800.00. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.
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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