Ontario Teachers Pension Plan Board Maintains Stake in Transocean Ltd. (RIG)
Ontario Teachers Pension Plan Board held its stake in Transocean Ltd. (NYSE:RIG) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,223 shares of the offshore drilling services provider’s stock at the close of the 2nd quarter. Ontario Teachers Pension Plan Board’s holdings in Transocean were worth $619,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in RIG. Vanguard Group Inc. boosted its holdings in Transocean by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 40,938,941 shares of the offshore drilling services provider’s stock worth $509,689,000 after buying an additional 967,011 shares during the period. BlackRock Inc. grew its stake in Transocean by 12.1% in the 2nd quarter. BlackRock Inc. now owns 25,538,929 shares of the offshore drilling services provider’s stock valued at $210,185,000 after buying an additional 2,756,207 shares in the last quarter. State Street Corp grew its stake in Transocean by 8.2% in the 1st quarter. State Street Corp now owns 21,325,783 shares of the offshore drilling services provider’s stock valued at $265,374,000 after buying an additional 1,615,383 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Transocean by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,593,894 shares of the offshore drilling services provider’s stock valued at $103,650,000 after buying an additional 210,390 shares in the last quarter. Finally, Contrarius Investment Management Ltd grew its stake in Transocean by 96.8% in the 2nd quarter. Contrarius Investment Management Ltd now owns 9,740,030 shares of the offshore drilling services provider’s stock valued at $80,160,000 after buying an additional 4,790,469 shares in the last quarter. Institutional investors own 67.81% of the company’s stock.
Shares of Transocean Ltd. (RIG) opened at 10.28 on Wednesday. The stock’s market cap is $4.02 billion. The firm’s 50-day moving average is $8.82 and its 200 day moving average is $9.63. Transocean Ltd. has a 12 month low of $7.20 and a 12 month high of $16.66. Transocean also was the recipient of unusually large options trading on Monday. Investors bought 16,695 call options on the company. This represents an increase of approximately 121% compared to the typical volume of 7,543 call options.
RIG has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday. Nordea Equity Research reaffirmed a “buy” rating and issued a $14.00 price target on shares of Transocean in a report on Saturday. UBS AG raised Transocean from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $15.00 in a report on Monday, September 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 price target on shares of Transocean in a research report on Friday, September 22nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $11.00 price target on shares of Transocean in a research report on Friday, September 1st. Ten investment analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.46.
In related news, CAO Howard E. Davis bought 40,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $7.32 per share, with a total value of $292,800.00. Following the transaction, the chief accounting officer now owns 21,793 shares in the company, valued at approximately $159,524.76. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.
Transocean Company 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.
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