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

Kailix Advisors LLC reduced its stake in Transocean Ltd. (NYSE:RIG) by 49.3% during the 4th 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 comprises 10.6% of Kailix Advisors LLC’s holdings, making the stock its 5th largest position. Kailix Advisors LLC owned 0.38% of Transocean worth $12,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of RIG. Atria Investments Inc bought a new position in Transocean in the 3rd quarter valued at about $51,000. State of New Jersey Common Pension Fund D grew its position in shares of Transocean by 15.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 399,110 shares of the offshore drilling services provider’s stock worth $1,696,000 after purchasing an additional 53,774 shares in the last quarter. First National Trust Co acquired a new position in shares of Transocean during the 3rd quarter worth approximately $79,000. Oppenheimer Asset Management Inc. grew its position in shares of Transocean by 10.9% during the 3rd 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. Finally, KBC Group NV grew its position in shares of Transocean by 28.7% during the 3rd quarter. KBC Group NV now owns 23,785 shares of the offshore drilling services provider’s stock worth $101,000 after purchasing an additional 5,306 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Transocean Stock Performance

Shares of RIG stock opened at $2.97 on Thursday. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -4.06, a P/E/G ratio of 0.86 and a beta of 2.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 1.47. Transocean Ltd. has a 52 week low of $2.55 and a 52 week high of $6.88. The firm’s 50-day simple moving average is $3.62 and its two-hundred day simple moving average is $4.01.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, February 17th. The offshore drilling services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The business had revenue of $952.00 million during the quarter, compared to the consensus estimate of $962.28 million. As a group, equities analysts forecast that Transocean Ltd. will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on RIG. SEB Equity Research set a $2.80 target price on shares of Transocean in a research report on Wednesday, March 5th. Evercore ISI lowered shares of Transocean from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $6.00 to $5.00 in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Friday, December 6th. Barclays reduced their price target on shares of Transocean from $4.50 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Benchmark reiterated a “hold” rating on shares of Transocean in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.42.

Insider Activity

In related news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at approximately $1,205,327.20. This represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.