Somerset Capital Management LLP Acquires Shares of 474,268 Transocean LTD (RIG)
Somerset Capital Management LLP acquired a new stake in shares of Transocean LTD (NYSE:RIG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 474,268 shares of the offshore drilling services provider’s stock, valued at approximately $5,065,000. Transocean makes up about 1.0% of Somerset Capital Management LLP’s investment portfolio, making the stock its 12th largest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Dumont & Blake Investment Advisors LLC purchased a new position in Transocean during the third quarter valued at $108,000. Saratoga Research & Investment Management purchased a new position in Transocean during the third quarter valued at $115,000. WFG Advisors LP lifted its holdings in Transocean by 60.3% during the second quarter. WFG Advisors LP now owns 14,194 shares of the offshore drilling services provider’s stock valued at $117,000 after purchasing an additional 5,338 shares in the last quarter. IndexIQ Advisors LLC purchased a new position in Transocean during the third quarter valued at $117,000. Finally, XR Securities LLC purchased a new position in Transocean during the fourth quarter valued at $120,000. 73.16% of the stock is currently owned by institutional investors and hedge funds.
RIG has been the subject of a number of recent research reports. initiated coverage on shares of Transocean in a research report on Thursday, October 19th. They issued a “hold” rating and a $12.00 target price for the company. Jefferies Group increased their target price on shares of Transocean from $10.50 to $11.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. ValuEngine upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research cut shares of Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Royal Bank of Canada set a $11.00 target price on shares of Transocean and gave the company a “hold” rating in a research report on Sunday, November 12th. Eleven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Transocean has an average rating of “Hold” and a consensus target price of $12.11.
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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