Engineers Gate Manager LP raised its stake in shares of Transocean Ltd. (NYSE:RIG) by 821.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 386,853 shares of the offshore drilling services provider’s stock after buying an additional 344,889 shares during the quarter. Engineers Gate Manager LP owned about 0.10% of Transocean worth $3,184,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Transocean by 0.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,052 shares of the offshore drilling services provider’s stock worth $239,000 after buying an additional 175 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Transocean by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the offshore drilling services provider’s stock worth $200,000 after buying an additional 400 shares during the period. State Treasurer State of Michigan grew its position in shares of Transocean by 0.4% during the 1st quarter. State Treasurer State of Michigan now owns 127,848 shares of the offshore drilling services provider’s stock worth $1,592,000 after buying an additional 500 shares during the period. Teacher Retirement System of Texas grew its position in shares of Transocean by 1.7% during the 1st quarter. Teacher Retirement System of Texas now owns 31,059 shares of the offshore drilling services provider’s stock worth $387,000 after buying an additional 508 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of Transocean by 4.1% during the 1st quarter. Neuberger Berman Group LLC now owns 13,315 shares of the offshore drilling services provider’s stock worth $166,000 after buying an additional 521 shares during the period. Institutional investors own 67.84% of the company’s stock.

Shares of Transocean Ltd. (NYSE:RIG) opened at 8.47 on Friday. Transocean Ltd. has a 1-year low of $7.20 and a 1-year high of $16.66. The company has a 50-day moving average price of $8.30 and a 200-day moving average price of $10.10. The company’s market cap is $3.31 billion.

COPYRIGHT VIOLATION WARNING: “Engineers Gate Manager LP Has $3.18 Million Stake in Transocean Ltd. (RIG)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.thecerbatgem.com/2017/09/09/engineers-gate-manager-lp-has-3-18-million-stake-in-transocean-ltd-rig.html.

Several equities analysts have recently issued reports on RIG shares. Jefferies Group LLC set a $9.00 target price on Transocean and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Sanford C. Bernstein lowered Transocean from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $16.50 to $9.00 in a research report on Thursday, July 6th. Royal Bank Of Canada upgraded Transocean from an “underperform” rating to a “sector perform” rating and set a $11.00 target price for the company in a research report on Friday, August 25th. R. F. Lafferty set a $15.00 target price on Transocean and gave the stock a “buy” rating in a research report on Saturday, August 26th. Finally, Capital One Financial Corporation upgraded Transocean from an “equal weight” rating to an “overweight” rating and set a $12.00 target price for the company in a research report on Thursday, August 31st. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Transocean presently has an average rating of “Hold” and a consensus price target of $12.21.

In other Transocean news, CAO Howard E. Davis purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.

Want to see what other hedge funds are holding RIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Transocean Ltd. (NYSE:RIG).

Institutional Ownership by Quarter for Transocean (NYSE:RIG)

Receive News & Stock 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 stocks with our FREE daily email newsletter.