Murphy Pohlad Asset Management LLC Boosts Holdings in Transocean Ltd. $RIG

Murphy Pohlad Asset Management LLC boosted its position in Transocean Ltd. (NYSE:RIG) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,000 shares of the offshore drilling services provider’s stock after buying an additional 9,600 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Transocean were worth $300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blume Capital Management Inc. grew its position in 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 last quarter. Verum Partners LLC purchased a new position in Transocean in the 2nd quarter valued at $28,000. Stockman Wealth Management Inc. purchased a new position in Transocean in the 2nd quarter valued at $28,000. Belpointe Asset Management LLC purchased a new stake in shares of Transocean during the 2nd quarter worth $30,000. Finally, Revolve Wealth Partners LLC purchased a new stake in shares of Transocean during the 2nd quarter worth $30,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Transocean Trading Up 2.0%

Shares of RIG stock opened at $3.91 on Friday. The firm has a 50-day moving average price of $3.32 and a 200 day moving average price of $2.91. Transocean Ltd. has a twelve month low of $1.97 and a twelve month high of $4.74. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -1.19 and a beta of 2.68. The company has a current ratio of 1.26, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

Insider Activity

In related news, Director Frederik Wilhelm Mohn acquired 4,000,000 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was bought at an average price of $3.05 per share, with a total value of $12,200,000.00. Following 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Keelan Adamson sold 40,942 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $4.00, for a total transaction of $163,768.00. Following the transaction, the chief executive officer directly owned 1,370,152 shares of the company’s stock, valued at approximately $5,480,608. This represents a 2.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 12.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RIG. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Barclays boosted their target price on shares of Transocean from $3.50 to $4.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Transocean currently has a consensus rating of “Hold” and an average price target of $4.26.

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.