Renowned Legg Mason manager Bill Miller bought a large stake in Transocean at the height of the BP turmoil, believing the owner of the stricken Gulf of Mexico rig got oversold during the crisis.
Schroders' Richard Buxton has reiterated his support for Korean state-controlled oil producer KNOC's hostile pursuit for Dana Petroleum.
South Korea state-owned oil company KNOC has launched a £1.87bn hostile takeover bid for Dana Petroleum, a figure likely to tempt the Aberdeen-based group's largest shareholder Schroders.
Fund managers have shown their support for oil giant BP despite its record $17bn (£11bn) loss in the second quarter.
BP has recorded a $17bn (£11bn) loss over the second quarter, one of the largest corporate losses in British history.
Embattled BP chief executive Tony Hayward is expected to resign tomorrow as the oil giant attempts to rebound from the Gulf of Mexico oil disaster.
BP has begun to offload assets aimed at raising cash to pay for the Gulf of Mexico disaster, agreeing the $7bn sale of fields in the US, Canada and Egypt to Apache.