Transocean Ltd. (NYSE:RIG) Shares Purchased by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC boosted its holdings in Transocean Ltd. (NYSE:RIG) by 8.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,950 shares of the offshore drilling services provider’s stock after buying an additional 8,300 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Transocean were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of Transocean in the 2nd quarter worth about $30,000. Fiducient Advisors LLC purchased a new position in shares of Transocean in the 1st quarter worth about $63,000. SG Americas Securities LLC purchased a new position in shares of Transocean in the 2nd quarter worth about $64,000. Finally, CWM LLC raised its holdings in shares of Transocean by 36.1% in the 3rd quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after purchasing an additional 4,529 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Transocean Price Performance

Shares of NYSE RIG opened at $4.24 on Friday. Transocean Ltd. has a fifty-two week low of $3.85 and a fifty-two week high of $7.05. The business has a 50 day moving average price of $4.34 and a two-hundred day moving average price of $5.08. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.71 billion, a PE ratio of -5.65 and a beta of 2.79.

Transocean (NYSE:RIG) last issued its earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). Transocean had a negative return on equity of 1.47% and a negative net margin of 18.81%. The firm had revenue of $861.00 million during the quarter, compared to analyst estimates of $862.25 million. During the same quarter in the previous year, the business posted ($0.15) EPS. Transocean’s revenue was up 18.1% compared to the same quarter last year. Sell-side analysts expect that Transocean Ltd. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays cut their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Benchmark downgraded Transocean from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Morgan Stanley raised their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. StockNews.com upgraded Transocean to a “sell” rating in a report on Thursday, October 10th. Finally, Susquehanna dropped their target price on Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Transocean presently has a consensus rating of “Hold” and an average target price of $6.63.

Insider Activity at Transocean

In related news, Director Perestroika acquired 1,500,000 shares of Transocean stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the transaction, the director now directly owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.16% of the company’s stock.

Transocean 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.