Contrarius Investment Management LTD Has Lowered Its Position in Transocean LTD (RIG) by $3.08 Million as Stock Price Declined

April 20, 2018 - By Hazel Jackson

Transocean Ltd. (NYSE:RIG) LogoInvestors sentiment increased to 1.04 in Q4 2017. Its up 0.09, from 0.95 in 2017Q3. It improved, as 52 investors sold RIG shares while 112 reduced holdings. 69 funds opened positions while 101 raised stakes. 275.51 million shares or 1.75% less from 280.42 million shares in 2017Q3 were reported. Barclays Public Limited holds 0% or 547,186 shares. Millennium Limited Liability Company invested in 2.63M shares. Castleark Mgmt holds 11,600 shares. Vertex One Asset Incorporated holds 1.56% or 858,676 shares in its portfolio. Shine Inv Advisory stated it has 0% of its portfolio in Transocean Ltd. (NYSE:RIG). Bnp Paribas Arbitrage Sa holds 0.01% of its portfolio in Transocean Ltd. (NYSE:RIG) for 485,014 shares. United Ser Automobile Association holds 0.02% in Transocean Ltd. (NYSE:RIG) or 776,537 shares. Janney Montgomery Scott holds 0.01% in Transocean Ltd. (NYSE:RIG) or 48,869 shares. Hancock reported 90,734 shares. Nomura invested 0.01% in Transocean Ltd. (NYSE:RIG). Envestnet Asset Mgmt holds 0% in Transocean Ltd. (NYSE:RIG) or 3,696 shares. 122 were accumulated by Parkside Financial Bank And. Creative Planning invested in 438,416 shares. Putnam Investments Limited Liability Company holds 0% or 132,990 shares. Ameritas Investment has 116,800 shares for 0.06% of their portfolio.

Contrarius Investment Management Ltd decreased its stake in Transocean Ltd (RIG) by 2.87% based on its latest 2017Q4 regulatory filing with the SEC. Contrarius Investment Management Ltd sold 308,100 shares as the company’s stock declined 4.92% with the market. The institutional investor held 10.43M shares of the oil & gas production company at the end of 2017Q4, valued at $111.44 million, down from 10.74 million at the end of the previous reported quarter. Contrarius Investment Management Ltd who had been investing in Transocean Ltd for a number of months, seems to be less bullish one the $5.68 billion market cap company. The stock decreased 1.83% or $0.23 during the last trading session, reaching $12.31. About 9.74M shares traded. Transocean Ltd. (NYSE:RIG) has declined 18.26% since April 20, 2017 and is downtrending. It has underperformed by 29.81% the S&P500.

Contrarius Investment Management Ltd, which manages about $2.01B US Long portfolio, upped its stake in Bed Bath & Beyond Inc (NASDAQ:BBBY) by 5.20 million shares to 6.00 million shares, valued at $131.84 million in 2017Q4, according to the filing. It also increased its holding in Warrior Met Coal Inc by 1.33 million shares in the quarter, for a total of 1.54M shares, and has risen its stake in American Eagle Outfitters Ne (NYSE:AEO).

Analysts await Transocean Ltd. (NYSE:RIG) to report earnings on April, 30 after the close. They expect $-0.31 earnings per share, down 3,200.00 % or $0.32 from last year’s $0.01 per share. After $-0.24 actual earnings per share reported by Transocean Ltd. for the previous quarter, Wall Street now forecasts 29.17 % negative EPS growth.

Transocean Ltd. (NYSE:RIG) Ratings Coverage

Among 8 analysts covering Transocean LTD (NYSE:RIG), 3 have Buy rating, 1 Sell and 4 Hold. Therefore 38% are positive. Transocean LTD had 16 analyst reports since November 2, 2017 according to SRatingsIntel. Cowen & Co maintained the shares of RIG in report on Thursday, January 11 with “Hold” rating. The rating was maintained by Susquehanna with “Hold” on Friday, February 16. Piper Jaffray maintained the stock with “Hold” rating in Tuesday, March 27 report. On Thursday, November 2 the stock rating was maintained by Jefferies with “Hold”. RBC Capital Markets maintained the shares of RIG in report on Thursday, December 21 with “Hold” rating. RBC Capital Markets maintained Transocean Ltd. (NYSE:RIG) rating on Friday, November 10. RBC Capital Markets has “Hold” rating and $11.0 target. Piper Jaffray maintained the stock with “Hold” rating in Friday, November 3 report. The firm has “Hold” rating by Cowen & Co given on Thursday, March 15. On Thursday, January 4 the stock rating was upgraded by Jefferies to “Buy”. Piper Jaffray maintained Transocean Ltd. (NYSE:RIG) on Wednesday, January 10 with “Hold” rating.

Transocean Ltd. (NYSE:RIG) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.