Sagefield Capital LP Buys 507,988 Shares of Transocean Ltd. (NYSE:RIG)

Sagefield Capital LP boosted its stake in Transocean Ltd. (NYSE:RIG - Free Report) by 42.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,710,176 shares of the offshore drilling services provider's stock after buying an additional 507,988 shares during the period. Sagefield Capital LP owned approximately 0.20% of Transocean worth $6,413,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in RIG. Optiver Holding B.V. increased its position in Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider's stock valued at $32,000 after acquiring an additional 2,933 shares during the period. Ballentine Partners LLC lifted its position in shares of Transocean by 19.4% during the fourth quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider's stock valued at $68,000 after purchasing an additional 2,963 shares in the last quarter. Van Den Berg Management I Inc. lifted its position in shares of Transocean by 11.9% during the fourth quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider's stock valued at $106,000 after purchasing an additional 3,000 shares in the last quarter. Nomura Holdings Inc. raised its position in Transocean by 11.6% in the fourth quarter. Nomura Holdings Inc. now owns 32,651 shares of the offshore drilling services provider's stock worth $122,000 after acquiring an additional 3,390 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in Transocean by 23.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 19,015 shares of the offshore drilling services provider's stock worth $71,000 after acquiring an additional 3,620 shares during the period. Institutional investors own 67.73% of the company's stock.

Transocean Price Performance

Shares of NYSE:RIG opened at $2.62 on Friday. The firm has a market capitalization of $2.31 billion, a P/E ratio of -3.58, a P/E/G ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $6.38. The company's fifty day moving average price is $2.61 and its 200 day moving average price is $3.42. 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 (NYSE:RIG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Transocean had a negative return on equity of 0.52% and a negative net margin of 14.53%. The firm had revenue of $906.00 million during the quarter, compared to the consensus estimate of $884.92 million. During the same period last year, the company earned ($0.03) earnings per share. The company's revenue for the quarter was up 18.7% on a year-over-year basis. As a group, sell-side analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $2.23, for a total transaction of $49,060.00. Following the completion of the transaction, the executive vice president now owns 362,841 shares in the company, valued at approximately $809,135.43. This represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RIG shares. Morgan Stanley decreased their target price on shares of Transocean from $4.00 to $3.50 and set an "equal weight" rating on the stock in a report on Friday. SEB Equity Research set a $2.80 target price on shares of Transocean in a research report on Wednesday, March 5th. Citigroup lowered their price target on shares of Transocean from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Barclays reduced their price objective on shares of Transocean from $4.00 to $3.50 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, BTIG Research set a $5.00 price objective on shares of Transocean and gave the company a "buy" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four 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 a consensus price target of $4.58.

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.

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