Rathbones Group PLC Sells 5,756 Shares of Transocean Ltd. (NYSE:RIG)

Rathbones Group PLC trimmed its stake in shares of Transocean Ltd. (NYSE:RIG) by 26.6% in the second quarter, Holdings Channel.com reports. The fund owned 15,876 shares of the offshore drilling services provider’s stock after selling 5,756 shares during the quarter. Rathbones Group PLC’s holdings in Transocean were worth $85,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Meeder Advisory Services Inc. raised its position in shares of Transocean by 104.3% during the second quarter. Meeder Advisory Services Inc. now owns 29,344 shares of the offshore drilling services provider’s stock worth $157,000 after acquiring an additional 14,984 shares during the last quarter. American Century Companies Inc. raised 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 acquiring an additional 2,623,615 shares during the last quarter. PFG Investments LLC raised its position in shares of Transocean by 6.1% during the second quarter. PFG Investments LLC now owns 183,137 shares of the offshore drilling services provider’s stock worth $980,000 after acquiring an additional 10,500 shares during the last quarter. General American Investors Co. Inc. raised its position in shares of Transocean by 8.3% during the second quarter. General American Investors Co. Inc. now owns 650,000 shares of the offshore drilling services provider’s stock worth $3,478,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Transocean by 3.2% during the second quarter. Arizona State Retirement System now owns 206,501 shares of the offshore drilling services provider’s stock worth $1,105,000 after purchasing an additional 6,395 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RIG shares. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of Transocean in a research note on Friday, August 2nd. Citigroup cut Transocean from a “buy” rating to a “neutral” rating in a research note 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 note on Monday. StockNews.com raised Transocean to a “sell” rating in a research note on Monday, August 5th. Finally, DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Transocean has a consensus rating of “Hold” and an average price target of $7.00.

Insider Activity at Transocean

In related news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the transaction, the director now directly owns 91,074,894 shares in the company, valued at $376,139,312.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’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 transaction, the director now owns 89,574,894 shares of the company’s stock, valued at $468,476,695.62. The disclosure for this purchase can be found here. 13.16% of the stock is owned by insiders.

Transocean Trading Up 5.3 %

Shares of Transocean stock opened at $4.68 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.08 and a current ratio of 1.36. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $8.71. The stock has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $5.46. The stock has a market capitalization of $4.40 billion, a PE ratio of -8.98 and a beta of 2.79.

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