Banque Cantonale Vaudoise Sells 69,291 Shares of Transocean Ltd. (NYSE:RIG)

Banque Cantonale Vaudoise trimmed its position in shares of Transocean Ltd. (NYSE:RIG) by 33.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,181 shares of the offshore drilling services provider’s stock after selling 69,291 shares during the period. Banque Cantonale Vaudoise’s holdings in Transocean were worth $592,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Transocean by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 68,982,142 shares of the offshore drilling services provider’s stock valued at $433,208,000 after buying an additional 429,950 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Transocean by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 56,119,489 shares of the offshore drilling services provider’s stock worth $300,239,000 after purchasing an additional 375,450 shares during the last quarter. Capital World Investors raised its holdings in Transocean by 18.8% in the first quarter. Capital World Investors now owns 46,334,990 shares of the offshore drilling services provider’s stock worth $290,984,000 after buying an additional 7,320,672 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Transocean by 19.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,725,995 shares of the offshore drilling services provider’s stock valued at $196,484,000 after acquiring an additional 5,856,414 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Transocean by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 16,858,264 shares of the offshore drilling services provider’s stock valued at $90,192,000 after purchasing an additional 2,606,017 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RIG has been the subject of a number of research reports. Susquehanna decreased their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Morgan Stanley raised their target price on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Barclays lowered their price objective 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. StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. Finally, Benchmark lowered Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.63.

Transocean Trading Up 2.8 %

Shares of NYSE:RIG opened at $4.35 on Friday. The business’s fifty day simple moving average is $4.33 and its 200-day simple moving average is $4.96. 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 capitalization of $3.81 billion, a PE ratio of -5.80 and a beta of 2.78.

Insider Activity

In other news, Director Perestroika bought 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $4.13 per share, for a total transaction 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 approximately $376,139,312.22. This represents a 1.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The stock was 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 owns 310,857 shares in the company, valued at $1,333,576.53. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.16% of the company’s stock.

Transocean 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.