Transocean Ltd. (NYSE:RIG) Stake Increased by Centiva Capital LP

Centiva Capital LP raised its stake in shares of Transocean Ltd. (NYSE:RIG) by 101.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 201,761 shares of the offshore drilling services provider’s stock after acquiring an additional 101,761 shares during the quarter. Centiva Capital LP’s holdings in Transocean were worth $857,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Transocean by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,606,320 shares of the offshore drilling services provider’s stock worth $49,327,000 after purchasing an additional 826,229 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Transocean by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 196,699 shares of the offshore drilling services provider’s stock worth $836,000 after buying an additional 151,507 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Transocean by 214.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 382,362 shares of the offshore drilling services provider’s stock worth $2,046,000 after buying an additional 260,710 shares during the last quarter. Kailix Advisors LLC increased its holdings in shares of Transocean by 59.9% in the 3rd quarter. Kailix Advisors LLC now owns 6,620,451 shares of the offshore drilling services provider’s stock valued at $28,137,000 after acquiring an additional 2,481,059 shares during the last quarter. Finally, Simplicity Wealth LLC acquired a new stake in shares of Transocean during the 2nd quarter valued at approximately $160,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Stock Performance

Shares of NYSE RIG opened at $4.18 on Friday. Transocean Ltd. has a 12-month low of $3.85 and a 12-month high of $6.88. The company has a current ratio of 1.64, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The company has a market cap of $3.66 billion, a PE ratio of -5.57 and a beta of 2.75. The stock has a 50 day simple moving average of $4.30 and a 200-day simple moving average of $4.86.

Wall Street Analyst Weigh In

A number of research firms have commented on RIG. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Benchmark reaffirmed a “hold” rating on shares of Transocean in a research report on Tuesday. Susquehanna dropped their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research note on Thursday, September 12th. Finally, Barclays dropped their price target on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.43.

Insiders Place Their Bets

In related news, Director Perestroika bought 1,500,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roderick James Mackenzie sold 20,000 shares of the firm’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 transaction, 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 position. The disclosure for this sale can be found here. 13.16% of the stock is currently owned by insiders.

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.