Transocean Ltd. (RIG) Shares Sold by Exxonmobil Investment Management Inc. TX

Exxonmobil Investment Management Inc. TX decreased its position in shares of Transocean Ltd. (NYSE:RIG) by 13.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,080 shares of the offshore drilling services provider’s stock after selling 11,368 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Transocean were worth $618,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RIG. Creative Planning raised its position in Transocean by 28.0% in the second quarter. Creative Planning now owns 303,743 shares of the offshore drilling services provider’s stock worth $2,500,000 after buying an additional 66,484 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Transocean during the second quarter valued at approximately $217,000. UBS Oconnor LLC acquired a new stake in shares of Transocean during the first quarter valued at approximately $3,175,000. Piedmont Investment Advisors LLC increased its position in Transocean by 7.6% in the first quarter. Piedmont Investment Advisors LLC now owns 242,830 shares of the offshore drilling services provider’s stock worth $3,023,000 after buying an additional 17,155 shares during the period. Finally, Bank of Nova Scotia purchased a new position in Transocean during the first quarter worth about $604,000. 67.32% of the stock is owned by institutional investors.

Shares of Transocean Ltd. (NYSE RIG) opened at 8.32 on Thursday. The firm’s 50-day moving average is $8.41 and its 200 day moving average is $10.96. Transocean Ltd. has a 1-year low of $7.67 and a 1-year high of $16.66. The stock’s market capitalization is $3.25 billion.

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A number of equities analysts recently commented on RIG shares. Sanford C. Bernstein cut Transocean from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $16.50 to $9.00 in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $13.00 target price on shares of Transocean in a report on Monday, May 15th. Jefferies Group LLC set a $12.00 price target on Transocean and gave the stock a “hold” rating in a research report on Saturday, July 1st. R. F. Lafferty dropped their price target on Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, May 15th. Finally, B. Riley dropped their target price on Transocean from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, May 9th. Thirteen analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.73.

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.