Transocean Ltd. (NYSE:RIG) Shares Bought by Creative Planning

Creative Planning grew its stake in shares of Transocean Ltd. (NYSE:RIG) by 63.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 290,993 shares of the offshore drilling services provider’s stock after acquiring an additional 112,512 shares during the period. Creative Planning’s holdings in Transocean were worth $1,237,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in Transocean by 1,748.6% during the first quarter. Janney Montgomery Scott LLC now owns 245,861 shares of the offshore drilling services provider’s stock worth $1,544,000 after purchasing an additional 232,561 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Transocean in the 1st quarter worth about $197,000. Hosking Partners LLP grew its stake in Transocean by 19.6% in the 1st quarter. Hosking Partners LLP now owns 1,238,019 shares of the offshore drilling services provider’s stock valued at $7,775,000 after acquiring an additional 202,992 shares during the last quarter. Quent Capital LLC purchased a new position in Transocean during the 1st quarter valued at about $146,000. Finally, GSA Capital Partners LLP raised its position in Transocean by 23.9% during the first quarter. GSA Capital Partners LLP now owns 506,105 shares of the offshore drilling services provider’s stock worth $3,178,000 after acquiring an additional 97,676 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Stock Performance

NYSE RIG opened at $3.97 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.48 billion, a PE ratio of -8.82 and a beta of 2.79. The business’s 50-day moving average price is $4.36 and its 200 day moving average price is $5.10. Transocean Ltd. has a twelve month low of $3.85 and a twelve month high of $7.05.

Transocean (NYSE:RIG) last announced its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The company had revenue of $861.00 million for the quarter, compared to analysts’ expectations of $862.25 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, research analysts predict that Transocean Ltd. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Perestroika acquired 1,500,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now directly owns 91,074,894 shares of the company’s stock, valued at approximately $376,139,312.22. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $5.23 per share, with a total value of $10,460,000.00. Following the transaction, the director now owns 89,574,894 shares in the company, valued at approximately $468,476,695.62. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 12.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Benchmark cut shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Barclays reduced 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. Morgan Stanley increased their price objective on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. Finally, Susquehanna reduced their target price on shares of Transocean from $8.00 to $7.00 and set a “positive” rating on the stock in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.69.

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.