Sagefield Capital LP Reduces Stake in Transocean Ltd. (NYSE:RIG)

Sagefield Capital LP lessened its holdings in shares of Transocean Ltd. (NYSE:RIG) by 54.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,072,255 shares of the offshore drilling services provider’s stock after selling 1,292,600 shares during the period. Sagefield Capital LP owned 0.12% of Transocean worth $5,737,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RIG. Capital World Investors boosted its holdings in shares of Transocean by 34.7% in the 4th quarter. Capital World Investors now owns 39,014,318 shares of the offshore drilling services provider’s stock valued at $247,741,000 after buying an additional 10,049,077 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Transocean by 19.0% in the second quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock valued at $196,484,000 after acquiring an additional 5,856,414 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Transocean by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 68,552,192 shares of the offshore drilling services provider’s stock worth $435,306,000 after purchasing an additional 4,107,956 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Transocean during the second quarter worth about $16,179,000. Finally, American Century Companies Inc. increased its position in shares of Transocean by 24.3% during the second quarter. American Century Companies Inc. now owns 13,437,572 shares of the offshore drilling services provider’s stock worth $71,891,000 after purchasing an additional 2,623,615 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Transocean

In other Transocean news, Director Perestroika purchased 1,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the purchase, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the completion of the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director (Cyprus) Ltd Perestroika acquired 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the acquisition, the director now owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. The disclosure for this purchase can be found here. Company insiders own 13.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RIG. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Morgan Stanley decreased their target price on Transocean from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Benchmark reissued a “buy” rating and issued a $8.00 target price on shares of Transocean in a research report on Friday, August 2nd. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, StockNews.com raised Transocean to a “sell” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Transocean Stock Up 0.2 %

RIG opened at $4.55 on Tuesday. The business has a 50 day moving average price of $4.94 and a two-hundred day moving average price of $5.45. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. The company has a market cap of $4.28 billion, a PE ratio of -8.75 and a beta of 2.79. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $8.71.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The company had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. Transocean had a negative net margin of 11.34% and a negative return on equity of 4.76%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share. As a group, research analysts anticipate that Transocean Ltd. will post -0.19 EPS for the current year.

Transocean Company Profile

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.