Creative Planning Has $2.78 Million Stock Holdings in Transocean Ltd. $RIG

Creative Planning boosted its position in shares of Transocean Ltd. (NYSE:RIG) by 89.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,072,043 shares of the offshore drilling services provider’s stock after purchasing an additional 506,624 shares during the quarter. Creative Planning owned 0.12% of Transocean worth $2,777,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blume Capital Management Inc. grew its holdings in shares of Transocean by 125.9% in the 2nd quarter. Blume Capital Management Inc. now owns 10,560 shares of the offshore drilling services provider’s stock valued at $27,000 after buying an additional 5,885 shares during the period. Verum Partners LLC bought a new position in Transocean during the second quarter worth about $28,000. Stockman Wealth Management Inc. acquired a new position in Transocean in the second quarter valued at about $28,000. SBI Securities Co. Ltd. increased its holdings in shares of Transocean by 78.0% in the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock worth $28,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of Transocean during the 2nd quarter valued at about $30,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Transocean Price Performance

Shares of NYSE RIG opened at $3.90 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.26 and a quick ratio of 0.99. The business has a 50-day moving average of $3.60 and a 200-day moving average of $3.12. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -1.19 and a beta of 2.65. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $4.51.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Wednesday, October 29th. The offshore drilling services provider reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Transocean had a positive return on equity of 0.43% and a negative net margin of 75.71%.The firm had revenue of ($1,894.00) million during the quarter, compared to analysts’ expectations of $1.01 billion. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on RIG. Barclays increased their target price on Transocean from $4.00 to $4.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Wall Street Zen upgraded Transocean from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Citigroup upped their price objective on Transocean from $3.50 to $4.25 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.39.

Insider Activity

In other news, EVP Roderick James Mackenzie sold 53,769 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $3.86, for a total transaction of $207,548.34. Following the transaction, the executive vice president directly owned 247,072 shares in the company, valued at $953,697.92. The trade was a 17.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederik Wilhelm Mohn bought 4,000,000 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The stock was purchased at an average price of $3.05 per share, with a total value of $12,200,000.00. Following the completion of the purchase, the director directly owned 95,074,894 shares in the company, valued at $289,978,426.70. The trade was a 4.39% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 12.27% of the company’s stock.

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.