Transocean Ltd. (RIG) Position Reduced by Fairpointe Capital LLC

Fairpointe Capital LLC lessened its stake in Transocean Ltd. (NYSE:RIG) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,936,184 shares of the offshore drilling services provider’s stock after selling 157,364 shares during the quarter. Fairpointe Capital LLC owned approximately 1.01% of Transocean worth $32,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado increased its holdings in Transocean by 12.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after acquiring an additional 1,394 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Transocean during the first quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Transocean during the second quarter worth $111,000. Advisor Partners LLC purchased a new stake in shares of Transocean during the second quarter worth $112,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Transocean during the second quarter worth $113,000. 67.81% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: “Transocean Ltd. (RIG) Position Reduced by Fairpointe Capital LLC” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://ledgergazette.com/2017/10/10/transocean-ltd-rig-position-reduced-by-fairpointe-capital-llc.html.

A number of equities research analysts have recently issued reports on the stock. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised shares of Transocean from a “sell” rating to a “neutral” rating and upped their target price for the stock from $8.57 to $9.75 in a report on Wednesday, August 9th. Seaport Global Securities reaffirmed a “sell” rating on shares of Transocean in a report on Wednesday, July 26th. Finally, ValuEngine lowered shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday. Ten investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.53.

In other news, CAO Howard E. Davis acquired 40,000 shares of Transocean stock in a transaction dated 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 purchase, the chief accounting officer now directly owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Shares of Transocean Ltd. (NYSE:RIG) traded up 1.81% during mid-day trading on Tuesday, reaching $10.70. 6,519,086 shares of the company’s stock were exchanged. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66. The stock’s market cap is $4.19 billion. The stock has a 50 day moving average price of $9.14 and a 200 day moving average price of $9.58.

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 cont

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado increased its holdings in Transocean by 12.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 12,340 shares of the offshore drilling services provider’s stock worth $102,000 after acquiring an additional 1,394 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Transocean during the first quarter worth $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Transocean during the second quarter worth $111,000. Advisor Partners LLC purchased a new stake in shares of Transocean during the second quarter worth $112,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Transocean during the second quarter worth $113,000. 67.81% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: “Transocean Ltd. (RIG) Position Reduced by Fairpointe Capital LLC” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://ledgergazette.com/2017/10/10/transocean-ltd-rig-position-reduced-by-fairpointe-capital-llc.html.

A number of equities research analysts have recently issued reports on the stock. Pareto Securities raised shares of Transocean from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Transocean from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised shares of Transocean from a “sell” rating to a “neutral” rating and upped their target price for the stock from $8.57 to $9.75 in a report on Wednesday, August 9th. Seaport Global Securities reaffirmed a “sell” rating on shares of Transocean in a report on Wednesday, July 26th. Finally, ValuEngine lowered shares of Transocean from a “buy” rating to a “hold” rating in a report on Tuesday. Ten investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.53.

In other news, CAO Howard E. Davis acquired 40,000 shares of Transocean stock in a transaction dated 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 purchase, the chief accounting officer now directly owns 21,793 shares of the company’s stock, valued at approximately $159,524.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Shares of Transocean Ltd. (NYSE:RIG) traded up 1.81% during mid-day trading on Tuesday, reaching $10.70. 6,519,086 shares of the company’s stock were exchanged. Transocean Ltd. has a 52 week low of $7.20 and a 52 week high of $16.66. The stock’s market cap is $4.19 billion. The stock has a 50 day moving average price of $9.14 and a 200 day moving average price of $9.58.

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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