Transocean Ltd. (NYSE:RIG) Stake Lifted by Kailix Advisors LLC

Kailix Advisors LLC lifted its stake in shares of Transocean Ltd. (NYSE:RIG) by 59.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,620,451 shares of the offshore drilling services provider’s stock after buying an additional 2,481,059 shares during the quarter. Transocean comprises about 23.7% of Kailix Advisors LLC’s holdings, making the stock its biggest holding. Kailix Advisors LLC’s holdings in Transocean were worth $28,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RIG. Janney Montgomery Scott LLC boosted its position in shares of Transocean by 1,748.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 245,861 shares of the offshore drilling services provider’s stock valued at $1,544,000 after purchasing an additional 232,561 shares during the period. Empowered Funds LLC grew its position in shares of Transocean by 20.6% during the first quarter. Empowered Funds LLC now owns 149,785 shares of the offshore drilling services provider’s stock worth $941,000 after acquiring an additional 25,555 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Transocean by 8.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock valued at $140,000 after purchasing an additional 1,767 shares during the last quarter. Swiss National Bank boosted its stake in Transocean by 3.6% during the 1st quarter. Swiss National Bank now owns 1,437,730 shares of the offshore drilling services provider’s stock worth $9,029,000 after purchasing an additional 49,800 shares during the period. Finally, Meeder Advisory Services Inc. acquired a new position in Transocean in the first quarter valued at $90,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

RIG has been the topic of a number of research reports. Citigroup lowered Transocean from a “buy” rating to a “neutral” rating in a report on Thursday, September 12th. Morgan Stanley lifted their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Benchmark cut Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Thursday, October 10th. Finally, Susquehanna cut their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Transocean has a consensus rating of “Hold” and a consensus price target of $6.63.

Transocean Trading Down 2.2 %

NYSE:RIG opened at $4.47 on Friday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -5.96 and a beta of 2.78. Transocean Ltd. has a 1 year low of $3.85 and a 1 year high of $6.94. The stock has a fifty day moving average price of $4.31 and a two-hundred day moving average price of $5.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64.

Insider Activity

In related news, Director Perestroika purchased 1,500,000 shares of Transocean stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the transaction, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.16% of the company’s stock.

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.