Resonant Capital Advisors LLC Makes New $83,000 Investment in Transocean Ltd. $RIG

Resonant Capital Advisors LLC purchased a new stake in shares of Transocean Ltd. (NYSE:RIG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 32,161 shares of the offshore drilling services provider’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blume Capital Management Inc. grew its position in shares of Transocean by 125.9% during 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 acquiring an additional 5,885 shares during the period. Verum Partners LLC bought a new position in shares of Transocean in the second quarter worth approximately $28,000. Stockman Wealth Management Inc. bought a new position in Transocean in the 2nd quarter worth $28,000. Belpointe Asset Management LLC bought a new position in shares of Transocean in the second quarter worth about $30,000. Finally, Callan Family Office LLC bought a new stake in Transocean during the 2nd quarter valued at approximately $30,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RIG shares. Barclays raised their target price on shares of Transocean from $3.50 to $4.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Transocean has a consensus rating of “Hold” and a consensus price target of $4.26.

Transocean Trading Down 2.7%

RIG opened at $3.76 on Wednesday. The stock’s 50 day moving average price is $3.27 and its 200-day moving average price is $2.90. Transocean Ltd. has a one year low of $1.97 and a one year high of $4.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of -2.02 and a beta of 2.68.

Insider Buying and Selling

In related news, Director Frederik Wilhelm Mohn purchased 4,000,000 shares of Transocean stock in a transaction that occurred on Friday, September 26th. The shares were 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 of the company’s stock, valued at approximately $289,978,426.70. This represents 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 hyperlink. Also, CEO Keelan Adamson sold 40,942 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $4.00, for a total value of $163,768.00. Following the completion of the sale, the chief executive officer owned 1,370,152 shares of the company’s stock, valued at $5,480,608. The trade was a 2.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.54% of the stock is currently owned by 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.