Carl Icahn. Image courtesy of 24 Hour News/Youtube.

Famed investor Carl Icahn has cut his stake in rig provider Transocean, just a week after reducing his stake in Chesapeake Energy.

According to the Wall Street Journal, Icahn cuts his stake in Transocean to 1.5 percent, down from his previous position of about 5.88 percent.

Icahn now holds 5.48 million shares in Switzerland-based Transocean, according to data seen by the Wall Street Journal.

Icahn said in the filing that the cut was made “in order to recognize a capital loss for tax planning purposes.”

Icahn had boosted his position in Transocean to 5.61 percent of outstanding shares in January 2013 after having previously sold off his position in 2006, the Wall Street Journal said.

News of the move came about a week after Icahn cut his position in Oklahoma-based Chesapeake Energy.

According to regulatory filing seen by Marketwatch, Icahn sold just over 37 million shares in Chesapeake last week, representing more than half of his position in the company.

Icahn and his associated partners now hold about 4.6 percent of Chesapeake’s outstanding shares, or about 35.3 million shares, down from about 73 million shares in August.

Icahn said the shares were sold for “tax planning purposes,” according to Marketwatch.

In a regulatory document filed on Monday, Chesapeake Energy said that Icahn Capital senior managing director Vincent J. Intrieri resigned from the company’s board of directors.

John J. Lipinski, an independent member of the board, also resigned.

The resignations were effective as of September 26.

Chesapeake Energy said in the filing that the resignations were “not the result of any disagreement with the company on any matter relating to its operations, policies or practices.”


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