UBS Asset Management Americas Inc. raised its position in Transocean Ltd. (NYSE:RIG) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606,424 shares of the offshore drilling services provider’s stock after buying an additional 35,749 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.16% of Transocean worth $4,991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RIG. Russell Investments Group Ltd. raised its stake in shares of Transocean by 230.6% in the first quarter. Russell Investments Group Ltd. now owns 196,778 shares of the offshore drilling services provider’s stock valued at $2,452,000 after buying an additional 137,248 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Transocean in the first quarter valued at $116,000. Mason Street Advisors LLC raised its stake in shares of Transocean by 1.0% in the first quarter. Mason Street Advisors LLC now owns 53,796 shares of the offshore drilling services provider’s stock valued at $670,000 after buying an additional 542 shares during the period. M&T Bank Corp raised its stake in shares of Transocean by 17.8% in the first quarter. M&T Bank Corp now owns 23,665 shares of the offshore drilling services provider’s stock valued at $294,000 after buying an additional 3,575 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Transocean by 22.7% in the first quarter. Stifel Financial Corp now owns 81,108 shares of the offshore drilling services provider’s stock valued at $991,000 after buying an additional 15,018 shares during the period. Hedge funds and other institutional investors own 67.81% of the company’s stock.

In other Transocean news, CAO Howard E. Davis purchased 40,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average cost of $7.32 per share, with a total value of $292,800.00. Following the completion of the acquisition, the chief accounting officer now directly owns 21,793 shares in the company, valued at $159,524.76. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Transocean Ltd. (NYSE RIG) opened at 10.31 on Monday. Transocean Ltd. has a 52-week low of $7.20 and a 52-week high of $16.66. The company’s 50-day moving average price is $9.06 and its 200 day moving average price is $9.63. The stock’s market capitalization is $4.03 billion.

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Several analysts have issued reports on RIG shares. Clarkson Capital upgraded Transocean from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Friday, September 1st. Credit Suisse Group restated a “buy” rating on shares of Transocean in a research note on Wednesday, July 19th. R. F. Lafferty set a $15.00 target price on Transocean and gave the company a “buy” rating in a research note on Saturday, August 26th. Sanford C. Bernstein lowered 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, BidaskClub lowered Transocean from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. Transocean currently has a consensus rating of “Hold” and a consensus target price of $12.41.

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)

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