Cetera Investment Advisers Has $702,000 Stake in Transocean Ltd. (NYSE:RIG)

Cetera Investment Advisers raised its position in shares of Transocean Ltd. (NYSE:RIG) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 221,452 shares of the offshore drilling services provider’s stock after buying an additional 26,017 shares during the period. Cetera Investment Advisers’ holdings in Transocean were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Transocean by 154.8% during the first quarter. Parallel Advisors LLC now owns 8,810 shares of the offshore drilling services provider’s stock worth $28,000 after purchasing an additional 5,353 shares in the last quarter. Optiver Holding B.V. boosted its holdings in Transocean by 53.6% in the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock valued at $32,000 after purchasing an additional 2,933 shares during the period. Townsend & Associates Inc acquired a new position in shares of Transocean in the 1st quarter valued at approximately $32,000. Wedbush Securities Inc. acquired a new position in shares of Transocean during the first quarter worth $35,000. Finally, Integrity Wealth Solutions LLC acquired a new position in Transocean in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

RIG has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Transocean from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. BTIG Research set a $5.00 target price on shares of Transocean and gave the stock a “buy” rating in a research note on Monday, May 5th. Barclays set a $4.00 target price on shares of Transocean and gave the company an “overweight” rating in a research report on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Transocean from $4.00 to $3.50 and set an “equal weight” rating for the company in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.26.

Transocean Trading Up 0.5%

Shares of RIG stock opened at $3.03 on Friday. Transocean Ltd. has a fifty-two week low of $1.97 and a fifty-two week high of $5.26. The firm has a market capitalization of $2.85 billion, a P/E ratio of -1.63, a PEG ratio of 6.43 and a beta of 2.52. The stock’s fifty day moving average is $2.89 and its two-hundred day moving average is $2.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26.

About Transocean

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.