Transocean Ltd. (RIG) Shares Bought by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI boosted its stake in shares of Transocean Ltd. (NYSE:RIG) by 23.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,471,767 shares of the offshore drilling services provider’s stock after buying an additional 281,010 shares during the quarter. Commerzbank Aktiengesellschaft FI owned 0.38% of Transocean worth $15,836,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Transocean by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 12,729,364 shares of the offshore drilling services provider’s stock worth $136,965,000 after purchasing an additional 135,470 shares in the last quarter. Investment Centers of America Inc. acquired a new stake in Transocean during the third quarter worth approximately $127,000. Tiedemann Wealth Management LLC acquired a new stake in Transocean during the third quarter worth approximately $134,000. Schwab Charles Investment Management Inc. raised its holdings in Transocean by 17.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 2,366,309 shares of the offshore drilling services provider’s stock worth $25,462,000 after purchasing an additional 344,956 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Transocean by 47.2% in the 3rd quarter. Wells Fargo & Company MN now owns 597,524 shares of the offshore drilling services provider’s stock valued at $6,429,000 after acquiring an additional 191,634 shares during the period. 73.13% of the stock is owned by institutional investors and hedge funds.
RIG has been the topic of a number of recent research reports. Jefferies Group set a $9.00 target price on shares of Transocean and gave the company a “hold” rating in a report on Wednesday, August 16th. Royal Bank Of Canada raised shares of Transocean from an “underperform” rating to a “sector perform” rating and set a $11.00 target price on the stock in a report on Friday, August 25th. R. F. Lafferty set a $15.00 target price on shares of Transocean and gave the company a “buy” rating in a report on Saturday, August 26th. ValuEngine cut shares of Transocean from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Capital One Financial raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a research note on Thursday, August 31st. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.31.
Transocean (NYSE:RIG) last posted its earnings results on Wednesday, November 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. The firm had revenue of $808.00 million during the quarter, compared to the consensus estimate of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The company’s revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. analysts expect that Transocean Ltd. will post -0.32 EPS for the current year.
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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