Great West Life Assurance Co. Can grew its holdings in Transocean Ltd. (NYSE:RIG) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,258 shares of the offshore drilling services provider’s stock after purchasing an additional 14,390 shares during the period. Great West Life Assurance Co. Can owned approximately 0.08% of Transocean worth $3,143,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado lifted its holdings 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 purchasing an additional 1,394 shares in the last quarter. Dumont & Blake Investment Advisors LLC purchased a new stake in shares of Transocean in the third quarter valued at $108,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Transocean in the second quarter valued at $111,000. Advisor Partners LLC purchased a new stake in shares of Transocean in the second quarter valued at $112,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Transocean in the second quarter valued at $113,000. Institutional investors own 73.09% of the company’s stock.
Transocean Ltd. (NYSE:RIG) traded up $0.07 during midday trading on Tuesday, reaching $9.98. The company’s stock had a trading volume of 6,735,300 shares, compared to its average volume of 13,752,336. Transocean Ltd. has a one year low of $7.20 and a one year high of $16.66. The company has a current ratio of 2.36, a quick ratio of 2.13 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3,900.00, a price-to-earnings ratio of 12.39 and a beta of 1.80.
A number of analysts have recently issued reports on the company. Royal Bank of Canada set a $11.00 target price on Transocean and gave the company a “hold” rating in a report on Sunday, November 12th. TheStreet lowered Transocean from a “c-” rating to a “d” rating in a report on Friday, November 3rd. Zacks Investment Research lowered Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine lowered Transocean from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, BMO Capital Markets set a $7.00 target price on Transocean and gave the company a “sell” rating in a report on Wednesday, October 18th. Eleven research 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 presently has a consensus rating of “Hold” and an average target price of $12.31.
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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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