Murphy Pohlad Asset Management LLC Grows Stock Position in Transocean Ltd. (NYSE:RIG)

Murphy Pohlad Asset Management LLC lifted its stake in shares of Transocean Ltd. (NYSE:RIG) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,950 shares of the offshore drilling services provider’s stock after purchasing an additional 8,300 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Transocean were worth $455,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Transocean by 138.8% during the second 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 last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Transocean during the second quarter worth approximately $30,000. Fiducient Advisors LLC purchased a new stake in shares of Transocean during the first quarter worth approximately $63,000. SG Americas Securities LLC purchased a new stake in shares of Transocean during the second quarter worth approximately $64,000. Finally, CWM LLC raised its position in Transocean by 36.1% in the third quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after acquiring an additional 4,529 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Transocean Stock Down 2.4 %

RIG opened at $4.24 on Friday. 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 P/E ratio of -5.65 and a beta of 2.79. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $7.05. The business’s fifty day simple moving average is $4.34 and its 200 day simple moving average is $5.08.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The company had revenue of $861.00 million for the quarter, compared to analyst estimates of $862.25 million. Transocean had a negative net margin of 18.81% and a negative return on equity of 1.47%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS. As a group, equities research analysts anticipate that Transocean Ltd. will post -0.18 EPS for the current fiscal year.

Insider Activity at Transocean

In related news, Director Perestroika acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the completion of the purchase, the director now directly owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Susquehanna cut their price objective on Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday. DNB Markets upgraded Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com upgraded Transocean to a “sell” rating in a research report on Thursday, October 10th. Barclays cut their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Transocean has an average rating of “Hold” and an average target price of $6.63.

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.