Contrarius Investment Management LTD Has Raised Transocean LTD (RIG) Stake by $10.02 Million as Market Valuation Declined

March 20, 2018 - By Michael Collier

Investors sentiment decreased to 0.95 in 2017 Q3. Its down 0.30, from 1.25 in 2017Q2. It turned negative, as 66 investors sold RIG shares while 107 reduced holdings. 54 funds opened positions while 110 raised stakes. 280.42 million shares or 7.79% more from 260.14 million shares in 2017Q2 were reported. Cetera Advsr reported 156,856 shares or 0.1% of all its holdings. Sterling Cap Mgmt Limited Liability Corp stated it has 0.04% in Transocean Ltd. (NYSE:RIG). San Francisco Sentry Grp (Ca) holds 1,500 shares or 0.01% of its portfolio. Gotham Asset Mgmt Limited Com reported 0.38% in Transocean Ltd. (NYSE:RIG). The British Columbia – Canada-based Vertex One Asset Mgmt has invested 1.05% in Transocean Ltd. (NYSE:RIG). Arrow Finance Corp holds 0% in Transocean Ltd. (NYSE:RIG) or 1,000 shares. Evercore Wealth Management Limited Company reported 300 shares or 0% of all its holdings. Cognios Capital Ltd Company holds 0.06% or 14,826 shares in its portfolio. Chevy Chase, a Maryland-based fund reported 20 shares. C M Bidwell & Assocs Ltd has 0.33% invested in Transocean Ltd. (NYSE:RIG). Los Angeles Capital Management And Equity Inc holds 1.08M shares. 1,000 are owned by Rocky Mountain Advisers Ltd Limited Liability Company. Capital Inv Counsel, a North Carolina-based fund reported 22,575 shares. 145,660 were accumulated by Hsbc Plc. 10 holds 0.08% of its portfolio in Transocean Ltd. (NYSE:RIG) for 30,265 shares.

Contrarius Investment Management Ltd increased its stake in Transocean Ltd (RIG) by 10.29% based on its latest 2017Q3 regulatory filing with the SEC. Contrarius Investment Management Ltd bought 1.00M shares as the company’s stock declined 20.06% while stock markets rallied. The institutional investor held 10.74 million shares of the oil & gas production company at the end of 2017Q3, valued at $115.59 million, up from 9.74 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 bullish on the $4.47 billion market cap company. The stock increased 1.09% or $0.105 during the last trading session, reaching $9.745. About 3.85M shares traded. Transocean Ltd. (NYSE:RIG) has risen 15.86% since March 20, 2017 and is uptrending. It has underperformed by 0.84% the S&P500.

Contrarius Investment Management Ltd, which manages about $1.71 billion US Long portfolio, decreased its stake in Gilead Sciences Inc (NASDAQ:GILD) by 273,244 shares to 797,487 shares, valued at $64.61 million in 2017Q3, according to the filing. It also reduced its holding in Barrick Gold Corp (NYSE:ABX) by 256,456 shares in the quarter, leaving it with 530,665 shares, and cut its stake in Liberty Media Corp Delaware.

Transocean Ltd. (NYSE:RIG) Ratings Coverage

Among 40 analysts covering Transocean Ltd (NYSE:RIG), 15 have Buy rating, 10 Sell and 15 Hold. Therefore 38% are positive. Transocean Ltd has $21 highest and $2 lowest target. $12.07’s average target is 23.86% above currents $9.745 stock price. Transocean Ltd had 106 analyst reports since August 7, 2015 according to SRatingsIntel. As per Friday, December 2, the company rating was initiated by Bernstein. The firm has “Sell” rating by Citigroup given on Monday, May 16. The stock of Transocean Ltd. (NYSE:RIG) earned “Hold” rating by Zacks on Tuesday, August 25. The rating was upgraded by Pareto on Friday, August 18 to “Buy”. The firm has “Hold” rating by Cowen & Co given on Thursday, January 11. The firm has “Reduce” rating by Nomura given on Thursday, August 17. Jefferies maintained Transocean Ltd. (NYSE:RIG) on Friday, June 30 with “Hold” rating. Cowen & Co maintained Transocean Ltd. (NYSE:RIG) on Tuesday, August 18 with “Market Perform” rating. The stock of Transocean Ltd. (NYSE:RIG) earned “Hold” rating by RBC Capital Markets on Friday, November 10. Seaport Global Securities downgraded it to “Reduce” rating and $12 target in Wednesday, October 14 report.

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