RWC Asset Management LLP Buys Shares of 217,461 Transocean LTD (NYSE:RIG)

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RWC Asset Management LLP acquired a new stake in shares of Transocean LTD (NYSE:RIG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 217,461 shares of the offshore drilling services provider’s stock, valued at approximately $1,509,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Transocean by 0.3% in the third quarter. Vanguard Group Inc. now owns 38,625,518 shares of the offshore drilling services provider’s stock valued at $538,826,000 after buying an additional 118,330 shares in the last quarter. Vanguard Group Inc lifted its stake in Transocean by 0.3% in the third quarter. Vanguard Group Inc now owns 38,625,518 shares of the offshore drilling services provider’s stock valued at $538,826,000 after buying an additional 118,330 shares in the last quarter. Primecap Management Co. CA lifted its stake in Transocean by 129.0% in the third quarter. Primecap Management Co. CA now owns 32,168,839 shares of the offshore drilling services provider’s stock valued at $448,755,000 after buying an additional 18,121,494 shares in the last quarter. Platinum Investment Management Ltd. lifted its stake in Transocean by 66.3% in the third quarter. Platinum Investment Management Ltd. now owns 14,492,927 shares of the offshore drilling services provider’s stock valued at $202,176,000 after buying an additional 5,778,427 shares in the last quarter. Finally, FMR LLC lifted its stake in Transocean by 53.3% in the third quarter. FMR LLC now owns 7,824,982 shares of the offshore drilling services provider’s stock valued at $109,158,000 after buying an additional 2,721,171 shares in the last quarter. Hedge funds and other institutional investors own 81.88% of the company’s stock.

NYSE RIG opened at $8.35 on Thursday. Transocean LTD has a 1 year low of $6.19 and a 1 year high of $14.47. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -139.17 and a beta of 1.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.77 and a current ratio of 3.07.

In other Transocean news, CAO Howard E. Davis sold 10,298 shares of the company’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $7.28, for a total value of $74,969.44. Following the transaction, the chief accounting officer now directly owns 55,212 shares in the company, valued at $401,943.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vanessa C. L. Chang acquired 6,000 shares of the firm’s stock in a transaction on Monday, December 10th. The stock was bought at an average price of $8.00 per share, for a total transaction of $48,000.00. Following the completion of the acquisition, the director now owns 9,700 shares of the company’s stock, valued at $77,600. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 120,722 shares of company stock worth $858,980. Corporate insiders own 14.09% of the company’s stock.

A number of research analysts have weighed in on the stock. Johnson Rice raised shares of Transocean from a “sell” rating to a “hold” rating and set a $16.00 price target on the stock in a research note on Wednesday, October 17th. UBS Group raised shares of Transocean from an “accumulate” rating to a “buy” rating in a research note on Thursday, October 18th. ValuEngine lowered shares of Transocean from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. DNB Markets raised shares of Transocean from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Finally, Credit Suisse Group started coverage on shares of Transocean in a research report on Thursday, December 13th. They issued an “outperform” rating and a $14.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Transocean presently has a consensus rating of “Hold” and a consensus price target of $13.70.

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Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services. As of February 20, 2018, it owned or had partial ownership interests in, and operated 47 mobile offshore drilling units that consist of 27 ultra-deepwater floaters, 12 harsh environment floaters, 2 deepwater floaters, 6 midwater floaters, and 2 high-specification jackups.

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Institutional Ownership by Quarter for Transocean (NYSE:RIG)

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