Creative Planning Has $955,000 Stock Position in Transocean Ltd. (NYSE:RIG)

Creative Planning lifted its stake in Transocean Ltd. (NYSE:RIG) by 3.5% during the second quarter, Holdings Channel.com reports. The fund owned 178,481 shares of the offshore drilling services provider’s stock after buying an additional 6,084 shares during the period. Creative Planning’s holdings in Transocean were worth $955,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in Transocean during the second quarter worth approximately $30,000. Fiducient Advisors LLC acquired a new position in Transocean during the first quarter worth approximately $63,000. SG Americas Securities LLC acquired a new position in Transocean during the second quarter worth approximately $64,000. Fermata Advisors LLC acquired a new position in Transocean during the first quarter worth approximately $75,000. Finally, Epiq Partners LLC acquired a new position in Transocean during the second quarter worth approximately $86,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

RIG has been the topic of a number of recent analyst reports. StockNews.com raised Transocean to a “sell” rating in a research report on Thursday. DNB Markets raised Transocean from a “hold” rating to a “buy” rating in a research report on Tuesday, September 3rd. Citigroup downgraded Transocean from a “buy” rating to a “neutral” rating in a research report on Thursday, September 12th. Benchmark reaffirmed a “buy” rating and issued a $8.00 target price on shares of Transocean in a research report on Friday, August 2nd. 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 research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Transocean has a consensus rating of “Hold” and a consensus target price of $7.13.

Transocean Trading Down 1.4 %

Shares of RIG stock opened at $4.23 on Friday. 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 stock has a market cap of $3.70 billion, a P/E ratio of -8.13 and a beta of 2.79. The stock has a 50 day simple moving average of $4.64 and a 200 day simple moving average of $5.33. Transocean Ltd. has a 1 year low of $3.85 and a 1 year high of $7.96.

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

Insider Activity at Transocean

In other Transocean news, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $5.23 per share, for a total transaction of $10,460,000.00. Following the completion of the purchase, the director now directly owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Perestroika purchased 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, for a total transaction of $6,195,000.00. Following the completion of the acquisition, the director now 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 through the SEC website. Also, Director (Cyprus) Ltd Perestroika purchased 2,000,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the acquisition, the director now directly owns 89,574,894 shares of the company’s stock, 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. 13.16% of the stock is currently owned by corporate insiders.

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.