Bluefin Trading LLC decreased its position in shares of Transocean Ltd. (NYSE:RIG) by 40.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,090 shares of the offshore drilling services provider’s stock after selling 48,827 shares during the quarter. Bluefin Trading LLC’s holdings in Transocean were worth $585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIG. Contrarius Investment Management Ltd lifted its position in Transocean by 96.8% during 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 lifted its position in Transocean by 796.2% during 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 lifted its position in Transocean by 129.6% during 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. lifted its position in Transocean by 12.1% during 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, Marshall Wace LLP lifted its position in Transocean by 215.5% during the second quarter. Marshall Wace LLP now owns 2,365,570 shares of the offshore drilling services provider’s stock worth $18,925,000 after purchasing an additional 1,615,825 shares during the period. 67.81% of the stock is owned by institutional investors and hedge funds.

In other Transocean news, CAO Howard E. Davis bought 40,000 shares of Transocean stock in a transaction dated 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 completion of the purchase, the chief accounting officer now owns 21,793 shares of the company’s stock, valued at $159,524.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Several research firms recently weighed in on RIG. Jefferies Group LLC set a $12.00 price objective on shares of Transocean and gave the stock a “hold” rating in a research report on Saturday, July 1st. Nomura cut their price objective on shares of Transocean from $8.00 to $7.00 and set a “reduce” rating for the company in a research report on Thursday, August 17th. ValuEngine raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $11.00 target price on shares of Transocean in a report on Friday, September 1st. Ten research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.41.

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Shares of Transocean Ltd. (NYSE:RIG) traded up 1.75% during mid-day trading on Monday, hitting $10.49. 6,335,393 shares of the stock traded hands. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66. The stock’s market cap is $4.10 billion. The firm’s 50-day moving average is $9.06 and its 200-day moving average is $9.63.

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.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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