Creative Planning grew its position in shares of Transocean Ltd. (NYSE:RIG – Get Rating) by 39.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 302,901 shares of the offshore drilling services provider’s stock after acquiring an additional 85,219 shares during the quarter. Creative Planning’s holdings in Transocean were worth $1,381,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Transocean by 35.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,893,901 shares of the offshore drilling services provider’s stock valued at $13,196,000 after acquiring an additional 761,275 shares during the period. Aigen Investment Management LP acquired a new stake in Transocean in the fourth quarter worth about $632,000. Brandywine Global Investment Management LLC lifted its holdings in Transocean by 1.0% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,903,770 shares of the offshore drilling services provider’s stock worth $8,681,000 after purchasing an additional 18,029 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Transocean by 1,293.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,005 shares of the offshore drilling services provider’s stock worth $64,000 after purchasing an additional 13,000 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Transocean by 3.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 82,966 shares of the offshore drilling services provider’s stock worth $378,000 after purchasing an additional 2,743 shares during the period. Institutional investors and hedge funds own 55.16% of the company’s stock.
Insider Activity
In other news, CAO David A. Tonnel sold 12,000 shares of the stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $6.53, for a total value of $78,360.00. Following the completion of the sale, the chief accounting officer now directly owns 476,802 shares of the company’s stock, valued at $3,113,517.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.16% of the stock is owned by company insiders.
Transocean Stock Performance
Transocean (NYSE:RIG – Get Rating) last announced its quarterly earnings results on Monday, May 1st. The offshore drilling services provider reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.16). The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.29 million. Transocean had a negative net margin of 34.53% and a negative return on equity of 6.80%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.28) EPS. On average, analysts anticipate that Transocean Ltd. will post -0.46 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms recently weighed in on RIG. Citigroup upped their price objective on shares of Transocean from $5.50 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, March 22nd. Clarkson Capital raised shares of Transocean from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Tuesday, March 21st. Barclays cut their price target on shares of Transocean from $7.00 to $6.00 in a report on Thursday, February 23rd. Compass Point raised shares of Transocean from a “neutral” rating to a “buy” rating and set a $7.50 price target for the company in a report on Wednesday, March 22nd. Finally, StockNews.com started coverage on shares of Transocean in a report on Thursday, May 18th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Transocean currently has a consensus rating of “Hold” and a consensus price target of $6.98.
Transocean Company Profile
Transocean Ltd. engages in the provision of offshore contract drilling services for oil and gas wells. It also owns and operates offshore drilling fleets such as ultra-deepwater, harsh environment, deepwater, and midwater rigs. The company was founded in 1953 and is headquartered in Steinhausen, Switzerland.
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