Canada Pension Plan Investment Board raised its holdings in Transocean Ltd. (NYSE:RIG) by 72.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,798,694 shares of the offshore drilling services provider’s stock after purchasing an additional 755,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.46% of Transocean worth $19,354,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. BlackRock Inc. boosted its holdings in shares of 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 purchasing an additional 2,756,207 shares in the last quarter. State Street Corp boosted its holdings in shares of Transocean by 7.5% during the 2nd quarter. State Street Corp now owns 22,918,962 shares of the offshore drilling services provider’s stock valued at $188,616,000 after acquiring an additional 1,593,179 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Transocean by 1.7% during 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 acquiring an additional 210,390 shares in the last quarter. Contrarius Investment Management Ltd boosted its holdings in shares of Transocean by 96.8% during 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 acquiring an additional 4,790,469 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of Transocean by 129.6% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,299,461 shares of the offshore drilling services provider’s stock valued at $51,844,000 after acquiring an additional 3,556,281 shares in the last quarter. 68.88% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Transocean Ltd. (RIG) Shares Bought by Canada Pension Plan Investment Board” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/11/08/transocean-ltd-rig-shares-bought-by-canada-pension-plan-investment-board.html.

In related news, CAO Howard E. Davis purchased 40,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $7.32 per share, for a total transaction of $292,800.00. Following 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 filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by insiders.

RIG has been the topic of several recent research reports. HSBC Holdings plc initiated coverage on Transocean in a report on Thursday, October 19th. They set a “hold” rating and a $12.00 price objective on the stock. Jefferies Group LLC raised their price objective on Transocean from $10.50 to $11.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Zacks Investment Research raised Transocean from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, August 2nd. Credit Suisse Group reissued a “buy” rating on shares of Transocean in a report on Wednesday, July 19th. Finally, BidaskClub raised Transocean from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.25.

Transocean Ltd. (RIG) opened at $11.18 on Wednesday. The stock has a market capitalization of $4,397.24, a PE ratio of 14.05 and a beta of 1.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.13 and a current ratio of 2.36. Transocean Ltd. has a 12 month low of $7.20 and a 12 month high of $16.66.

Transocean (NYSE:RIG) last released its quarterly earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The business had revenue of $808.00 million during the quarter, compared to the consensus estimate of $703.13 million. Transocean had a positive return on equity of 2.10% and a negative net margin of 84.09%. The company’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. equities research analysts expect that Transocean Ltd. will post -0.32 earnings per share for the current fiscal year.

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)

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.