Comerica Bank grew its holdings in Transocean Ltd. (NYSE:RIG) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 135,285 shares of the offshore drilling services provider’s stock after buying an additional 622 shares during the quarter. Comerica Bank’s holdings in Transocean were worth $1,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RIG. Nationwide Fund Advisors lifted its holdings in Transocean by 16.4% in the 1st quarter. Nationwide Fund Advisors now owns 327,207 shares of the offshore drilling services provider’s stock worth $4,074,000 after buying an additional 46,097 shares during the period. Russell Investments Group Ltd. lifted its holdings in Transocean by 230.6% in the 1st quarter. Russell Investments Group Ltd. now owns 196,778 shares of the offshore drilling services provider’s stock worth $2,452,000 after buying an additional 137,248 shares during the period. Wells Fargo & Company MN lifted its holdings in Transocean by 21.6% in the 1st quarter. Wells Fargo & Company MN now owns 481,855 shares of the offshore drilling services provider’s stock worth $6,000,000 after buying an additional 85,486 shares during the period. Bank of New York Mellon Corp lifted its holdings in Transocean by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 3,596,299 shares of the offshore drilling services provider’s stock worth $44,773,000 after buying an additional 16,110 shares during the period. Finally, LS Investment Advisors LLC lifted its holdings in Transocean by 56.2% in the 1st quarter. LS Investment Advisors LLC now owns 16,151 shares of the offshore drilling services provider’s stock worth $201,000 after buying an additional 5,813 shares during the period. Institutional investors and hedge funds own 67.84% of the company’s stock.

In other news, CAO Howard E. Davis bought 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by corporate insiders.

Shares of Transocean Ltd. (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’s market cap is $3.61 billion. The company has a 50 day moving average price of $8.36 and a 200 day moving average price of $9.93.

RIG has been the subject of several research analyst reports. Jefferies Group LLC set a $12.00 price objective on Transocean and gave the stock a “hold” rating in a report on Wednesday, May 24th. BidaskClub upgraded Transocean from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Morgan Stanley lowered their target price on Transocean from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, June 16th. Sanford C. Bernstein cut Transocean from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $16.50 to $9.00 in a research note on Thursday, July 6th. Finally, Credit Suisse Group restated a “buy” rating on shares of Transocean in a research note on Wednesday, July 19th. Ten equities research 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. The company has an average rating of “Hold” and an average price target of $12.21.

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About Transocean

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)

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