Sei Investments Co. Buys 12,147 Shares of Transocean Ltd. (RIG)
Sei Investments Co. increased its stake in shares of Transocean Ltd. (NYSE:RIG) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 207,281 shares of the offshore drilling services provider’s stock after buying an additional 12,147 shares during the period. Sei Investments Co. owned 0.05% of Transocean worth $1,705,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado boosted its position in shares of Transocean by 12.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock valued at $102,000 after buying an additional 1,394 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of Transocean during the first quarter valued at $108,000. WFG Advisors LP boosted its position in shares of Transocean by 40.7% in the first quarter. WFG Advisors LP now owns 8,856 shares of the offshore drilling services provider’s stock valued at $110,000 after buying an additional 2,562 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Transocean during the first quarter valued at $116,000. Finally, Ronald Blue & Co. LLC bought a new position in shares of Transocean during the first quarter valued at $125,000. Institutional investors own 69.31% of the company’s stock.
Shares of Transocean Ltd. (NYSE RIG) opened at 7.97 on Monday. Transocean Ltd. has a 52-week low of $7.20 and a 52-week high of $16.66. The stock’s market cap is $3.12 billion. The firm has a 50-day moving average price of $8.27 and a 200-day moving average price of $10.42.
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Several brokerages recently weighed in on RIG. Pareto Securities upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded Transocean from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) upgraded Transocean from a “sell” rating to a “neutral” rating and lifted their price target for the company from $8.57 to $9.75 in a research report on Wednesday, August 9th. Barclays PLC lifted their price target on Transocean from $8.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, May 1st. Finally, Seaport Global Securities reiterated a “sell” rating on shares of Transocean in a research report on Wednesday, July 26th. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. Transocean currently has an average rating of “Hold” and a consensus price target of $12.37.
In related news, CAO Howard E. Davis purchased 40,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $7.32 per share, for a total transaction of $292,800.00. Following the acquisition, the chief accounting officer now directly owns 21,793 shares in the company, valued at approximately $159,524.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.
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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