Aberdeen Asset Management PLC UK trimmed its stake in Transocean Ltd. (NYSE:RIG) by 12.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 455,075 shares of the offshore drilling services provider’s stock after selling 62,013 shares during the quarter. Aberdeen Asset Management PLC UK owned approximately 0.12% of Transocean worth $3,745,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado raised its holdings in shares of 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 worth $102,000 after acquiring an additional 1,394 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Transocean in the first quarter worth $108,000. WFG Advisors LP raised its holdings 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 worth $110,000 after acquiring an additional 2,562 shares during the last quarter. Advisor Partners LLC acquired a new position in shares of Transocean in the second quarter worth $112,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Transocean in the second quarter worth $113,000. 67.84% of the stock is owned by institutional investors.
RIG has been the subject of a number of analyst reports. Jefferies Group LLC set a $12.00 price target on Transocean and gave the stock a “hold” rating in a report on Wednesday, May 24th. BidaskClub raised Transocean from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Morgan Stanley cut their price target on Transocean from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, June 16th. Sanford C. Bernstein cut Transocean from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $16.50 to $9.00 in a report on Thursday, July 6th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Transocean in a report on Wednesday, July 19th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company. Transocean currently has a consensus rating of “Hold” and a consensus price target of $12.21.
Transocean Ltd. (NYSE RIG) opened at 9.24 on Friday. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.66. The company has a 50-day moving average price of $8.36 and a 200-day moving average price of $9.93. The stock’s market cap is $3.61 billion.
In other news, CAO Howard E. Davis bought 40,000 shares of the firm’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 completion of the transaction, the chief accounting officer now directly 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 through the SEC website. 0.33% of the stock is owned by company insiders.
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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