Cetera Investment Advisers Has $733,000 Stake in Transocean Ltd. (NYSE:RIG)

Cetera Investment Advisers grew its stake in shares of Transocean Ltd. (NYSE:RIG) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,435 shares of the offshore drilling services provider’s stock after buying an additional 19,962 shares during the period. Cetera Investment Advisers’ holdings in Transocean were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in shares of Transocean in the 4th quarter valued at $27,000. Optiver Holding B.V. lifted its holdings in Transocean by 53.6% during the fourth quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock worth $32,000 after acquiring an additional 2,933 shares in the last quarter. Blue Trust Inc. grew its stake in Transocean by 96.2% in the fourth quarter. Blue Trust Inc. now owns 9,841 shares of the offshore drilling services provider’s stock valued at $37,000 after acquiring an additional 4,826 shares during the period. Adero Partners LLC bought a new stake in shares of Transocean in the fourth quarter worth about $38,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Transocean during the fourth quarter worth about $40,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Transocean news, EVP Roderick James Mackenzie sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $2.78, for a total value of $61,160.00. Following the completion of the transaction, the executive vice president now directly owns 340,841 shares in the company, valued at $947,537.98. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup cut their price objective on Transocean from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Morgan Stanley cut their price target on shares of Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research note on Friday, May 16th. Barclays lowered their price objective on shares of Transocean from $4.00 to $3.50 and set an “overweight” rating for the company in a research report on Monday, April 7th. BTIG Research set a $5.00 price objective on shares of Transocean and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, SEB Equity Research set a $2.80 price objective on shares of Transocean in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.58.

Transocean Stock Performance

Shares of RIG opened at $2.51 on Monday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -3.43, a PEG ratio of 0.86 and a beta of 2.52. Transocean Ltd. has a 12 month low of $1.97 and a 12 month high of $6.25. The firm has a fifty day simple moving average of $2.55 and a 200 day simple moving average of $3.34. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Monday, April 28th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $906.00 million during the quarter, compared to the consensus estimate of $884.92 million. Transocean had a negative net margin of 14.53% and a negative return on equity of 0.52%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. Research analysts forecast that Transocean Ltd. will post 0.14 EPS for the current fiscal year.

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.