Kailix Advisors LLC Lowers Stock Holdings in Transocean Ltd. (NYSE:RIG)

Kailix Advisors LLC lessened its holdings in Transocean Ltd. (NYSE:RIG - Free Report) by 49.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,357,201 shares of the offshore drilling services provider's stock after selling 3,263,250 shares during the quarter. Transocean accounts for 10.6% of Kailix Advisors LLC's investment portfolio, making the stock its 5th biggest position. Kailix Advisors LLC owned 0.38% of Transocean worth $12,590,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Swiss National Bank boosted its stake in shares of Transocean by 0.9% during the fourth quarter. Swiss National Bank now owns 1,463,630 shares of the offshore drilling services provider's stock valued at $5,489,000 after purchasing an additional 12,900 shares during the period. Avantax Advisory Services Inc. raised its holdings in Transocean by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 107,012 shares of the offshore drilling services provider's stock valued at $401,000 after buying an additional 4,285 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Transocean during the 4th quarter valued at $44,000. Lane Generational LLC grew its holdings in Transocean by 36.2% in the 4th quarter. Lane Generational LLC now owns 1,044,629 shares of the offshore drilling services provider's stock worth $3,917,000 after acquiring an additional 277,552 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Transocean in the fourth quarter valued at about $893,000. 67.73% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of research firms have recently weighed in on RIG. TD Cowen dropped their target price on shares of Transocean from $6.50 to $5.50 and set a "hold" rating for the company in a report on Wednesday, January 8th. Barclays dropped their price objective on Transocean from $4.50 to $4.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. Evercore ISI cut Transocean from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $6.00 to $5.00 in a research note on Wednesday, January 15th. SEB Equity Research set a $2.80 price target on Transocean in a research note on Wednesday, March 5th. Finally, Benchmark reissued a "hold" rating on shares of Transocean in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.42.

Transocean Stock Up 6.5 %

NYSE RIG traded up $0.19 during trading hours on Friday, reaching $3.04. 38,645,616 shares of the company's stock traded hands, compared to its average volume of 31,533,680. The firm has a market cap of $2.67 billion, a PE ratio of -4.16, a PEG ratio of 0.86 and a beta of 2.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.34. Transocean Ltd. has a 52-week low of $2.55 and a 52-week high of $6.88. The firm has a 50-day simple moving average of $3.58 and a 200 day simple moving average of $3.99.

Transocean (NYSE:RIG - Get Free Report) last issued its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.11). Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The company had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. Sell-side analysts anticipate that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $84,700.00. Following the completion of the transaction, the executive vice president now directly owns 313,072 shares of the company's stock, valued at approximately $1,205,327.20. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.