Transocean Ltd. (NYSE:RIG) Stock Position Cut by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its stake in shares of Transocean Ltd. (NYSE:RIG) by 63.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,963 shares of the offshore drilling services provider’s stock after selling 44,145 shares during the quarter. Sanctuary Advisors LLC’s holdings in Transocean were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Pilgrim Global Advisors LLC acquired a new position in Transocean during the third quarter worth about $77,473,000. Dimensional Fund Advisors LP grew its stake in shares of Transocean by 19.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock worth $196,484,000 after purchasing an additional 5,856,414 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Transocean by 24.3% in the 2nd 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. Kailix Advisors LLC lifted its stake in Transocean by 59.9% during the third quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock valued at $28,137,000 after purchasing an additional 2,481,059 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in Transocean during the third quarter worth approximately $8,935,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RIG shares. JPMorgan Chase & Co. raised Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Morgan Stanley upped their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research note on Tuesday, December 3rd. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price on the stock in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Transocean presently has a consensus rating of “Hold” and a consensus price target of $6.25.

Insider Transactions at Transocean

In other news, EVP Roderick James Mackenzie sold 20,000 shares of Transocean stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.29, for a total transaction of $85,800.00. Following the completion of the sale, the executive vice president now directly owns 310,857 shares in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.16% of the stock is currently owned by company insiders.

Transocean Stock Performance

Shares of RIG opened at $3.66 on Tuesday. Transocean Ltd. has a 52 week low of $3.40 and a 52 week high of $6.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. The company has a market capitalization of $3.21 billion, a PE ratio of -4.88 and a beta of 2.75. The company’s 50 day moving average price is $4.11 and its 200 day moving average price is $4.61.

Transocean 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.