Transocean Ltd. (RIG) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in Transocean Ltd. (NYSE:RIG) by 22.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,597,354 shares of the offshore drilling services provider’s stock after purchasing an additional 1,033,045 shares during the quarter. Van ECK Associates Corp owned about 1.43% of Transocean worth $46,066,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RIG. Contrarius Investment Management Ltd increased its holdings in shares of Transocean by 96.8% in the second quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock worth $80,160,000 after purchasing an additional 4,790,469 shares during the period. Teachers Advisors LLC increased its holdings in shares of Transocean by 796.2% in the first quarter. Teachers Advisors LLC now owns 4,355,168 shares of the offshore drilling services provider’s stock worth $54,222,000 after purchasing an additional 3,869,219 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in shares of Transocean by 129.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock worth $51,844,000 after purchasing an additional 3,556,281 shares during the period. BlackRock Inc. increased its holdings in shares of Transocean by 12.1% in the second quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock worth $210,185,000 after purchasing an additional 2,756,207 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Transocean by 606.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 2,028,718 shares of the offshore drilling services provider’s stock worth $25,256,000 after purchasing an additional 1,741,410 shares during the period. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Transocean Ltd. (RIG) traded up 2.57% during mid-day trading on Wednesday, reaching $9.59. 5,476,441 shares of the company’s stock traded hands. The firm’s market capitalization is $3.75 billion. The stock has a 50-day moving average price of $8.40 and a 200 day moving average price of $9.81. Transocean Ltd. has a 12-month low of $7.20 and a 12-month high of $16.66.

Several research firms have recently weighed in on RIG. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $11.00 price target on shares of Transocean in a report on Friday, September 1st. Clarkson Capital raised shares of Transocean from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Friday, September 1st. Capital One Financial Corporation raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a report on Thursday, August 31st. R. F. Lafferty set a $15.00 price target on shares of Transocean and gave the stock a “buy” rating in a report on Saturday, August 26th. Finally, BidaskClub raised shares of Transocean from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.21.

WARNING: This article was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/09/20/transocean-ltd-rig-shares-bought-by-van-eck-associates-corp.html.

In related news, CAO Howard E. Davis acquired 40,000 shares of the stock in a transaction on Thursday, August 17th. The stock was 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 directly owns 21,793 shares in the company, valued at $159,524.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Transocean 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.

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

Receive News & Ratings for Transocean Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transocean Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply