Sargent Investment Group LLC Sells 29,760 Shares of Transocean Ltd. (NYSE:RIG)

Sargent Investment Group LLC reduced its stake in Transocean Ltd. (NYSE:RIG) by 43.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,370 shares of the offshore drilling services provider’s stock after selling 29,760 shares during the period. Sargent Investment Group LLC’s holdings in Transocean were worth $163,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its holdings in Transocean by 8.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock worth $140,000 after acquiring an additional 1,767 shares during the period. Murphy Pohlad Asset Management LLC increased its holdings in shares of Transocean by 2.6% in the second quarter. Murphy Pohlad Asset Management LLC now owns 98,650 shares of the offshore drilling services provider’s stock worth $528,000 after purchasing an additional 2,500 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Transocean by 138.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 2,693 shares in the last quarter. Muhlenkamp & Co. Inc. boosted its stake in Transocean by 0.4% during the second quarter. Muhlenkamp & Co. Inc. now owns 1,014,269 shares of the offshore drilling services provider’s stock valued at $5,426,000 after buying an additional 3,771 shares during the period. Finally, CWM LLC grew its position in Transocean by 36.1% during the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after buying an additional 4,529 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Stock Performance

RIG stock opened at $4.46 on Friday. The firm’s fifty day moving average is $4.31 and its 200 day moving average is $5.00. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $6.88. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64.

Insider Activity

In related news, Director Perestroika acquired 1,500,000 shares of the stock in a transaction 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 transaction, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 1.67 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 13.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RIG shares. Susquehanna dropped their price target on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley increased their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday. Finally, Barclays cut their target price on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.63.

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.