Elliott Investment Management L.P. 13F: New $76M Stake in RIG
Elliott Investment Management initiated a brand-new position in Transocean Ltd., picking up 15.6 million shares worth $76.4 million.
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Elliott Investment Management L.P. opened a new position of 15,626,834 shares in Transocean Ltd. ($RIG), according to a 13F filing with the SEC dated May 15, 2026. It reported 15,626,834 shares worth $76.42 million at the end of the quarter.
Since the filing, $RIG is down 3.3% after 1 week, down 17.2% after 1 month and down 20.2% to date (from the $7.04 close on May 15, 2026).
Find the original: Elliott Investment Management L.P. 13F filings on SEC EDGAR
RIG
Transocean Ltd.
Key Points
- Elliott Investment Management opened a brand-new position in Transocean Ltd. (NYSE:RIG) by acquiring 15,626,834 shares valued at roughly $76.4 million, according to its latest SEC Form 13F filing.
- The stock traded around $4.89 recently, sitting between its 52-week low of $3.03 and high of $7.66 while tracking below its 50-day moving average of $5.54.
- Analyst coverage includes Barclays maintaining an Overweight rating with a $7.00 price target on August 12, 2026, alongside a consensus buy recommendation across 12 analysts.
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Elliott Investment Management Builds New Position in Transocean Ltd.
Elliott Investment Management L.P. initiated a brand-new stake in Transocean Ltd. NYSE:RIG, picking up 15,626,834 shares during the period. The newly reported position carries an estimated value of $76.4 million based on the fund's reported cost basis of $5.67 per share. Because 13F filings are backward-looking reports reflecting holdings at the close of the quarter, this disclosure shows past activity and may not capture the fund's current holdings today.
Transocean Stock Valuation and Market Standing
Shares of Transocean changed hands at $4.89 recently, staying well within its 52-week range spanning from a low of $3.03 to a high of $7.66. The offshore driller's shares are currently trading below the 50-day moving average of $5.54 and the 200-day moving average of $5.63. With a forward price-to-earnings ratio of 18.97, the company has a market capitalization of roughly $6.09 billion.
Analysts Set New Price Targets
Wall Street firms continue to monitor the offshore drilling specialist closely. On August 12, 2026, Barclays maintained its Overweight rating on the stock while adjusting its price target to $7.00 from $8.00. Earlier on July 8, 2026, Susquehanna kept a Positive rating while also lowering its price target to $7.00 from $8.00. Across 12 analyst opinions, the stock holds a consensus buy recommendation with a mean price target of $6.55. <|im_start|>Overview of Transocean Ltd.
Transocean Ltd. provides offshore contract drilling services for oil and gas wells globally, operating a specialized fleet of mobile offshore drilling units including ultra-deepwater floaters and harsh environment semisubmersibles. Headquartered in Zug, Switzerland, the company contracts its rigs and work crews to integrated energy firms and government-backed operators. This latest institutional filing sheds light on how large managers position themselves within the energy sector.
What to Watch Next for Transocean
Investors tracking Transocean will look ahead to the company's next earnings report scheduled for October 28, 2026, for updated figures on revenue and contract backlog. Subsequent Form 13F filings from major institutional investors will provide further visibility into how large funds adjust their positions in the energy services provider.
Related Filing Alerts
Source: Elliott Investment Management L.P.'s 13F filing on $RIG (May 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Elliott Investment Management L.P. 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts