Connor Clark & Lunn Investment Management Ltd. Sells 594,514 Shares of Transocean Ltd. (NYSE:RIG)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 73.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,575 shares of the offshore drilling services provider's stock after selling 594,514 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Transocean were worth $908,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in Transocean by 10.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider's stock worth $107,000 after purchasing an additional 2,469 shares in the last quarter. Murphy Pohlad Asset Management LLC lifted its stake in shares of Transocean by 2.6% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 98,650 shares of the offshore drilling services provider's stock valued at $528,000 after buying an additional 2,500 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider's stock valued at $25,000 after buying an additional 2,693 shares in the last quarter. Muhlenkamp & Co. Inc. lifted its position in shares of Transocean by 0.4% in the second quarter. Muhlenkamp & Co. Inc. now owns 1,014,269 shares of the offshore drilling services provider's stock worth $5,426,000 after buying an additional 3,771 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Transocean by 36.1% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling

In related news, Director Perestroika bought 1,500,000 shares of the company's stock in a transaction 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 acquisition, the director now owns 91,074,894 shares of the company's stock, valued at approximately $376,139,312.22. This represents a 1.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Roderick James Mackenzie sold 20,000 shares of the company's stock in a transaction dated Monday, November 18th. The shares were 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 approximately $1,333,576.53. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.54% of the company's stock.

Transocean Stock Performance

RIG stock traded up $0.02 during trading on Thursday, reaching $4.30. 12,736,607 shares of the company's stock were exchanged, compared to its average volume of 18,485,725. Transocean Ltd. has a 1-year low of $3.85 and a 1-year 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. The company's fifty day moving average price is $4.32 and its 200-day moving average price is $4.92. The firm has a market cap of $3.77 billion, a PE ratio of -5.73 and a beta of 2.78.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Benchmark downgraded shares of Transocean from a "buy" rating to a "hold" rating in a research note on Tuesday, October 15th. Morgan Stanley upped their price target on Transocean from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Transocean to a "sell" rating in a research note on Tuesday, November 12th. Susquehanna decreased their target price on Transocean from $7.00 to $6.50 and set a "positive" rating for the company in a report on Friday, November 1st. Finally, Barclays decreased their price objective on Transocean from $6.00 to $4.50 and set an "equal weight" rating for the company in a 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $6.63.

About Transocean

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.