Cetera Investment Advisers Has $5.81 Million Holdings in Transocean Ltd. $RIG

Key Points

• Cetera Investment Advisers increased its Transocean stake by 88.6% in the first quarter, acquiring 411,274 additional shares for a total holding of 875,719 shares valued at approximately $5.81 million.
• Institutional investors and hedge funds own 67.73% of Transocean, while director Chad C. Deaton purchased 35,000 shares at $4.95 each, increasing his ownership by 17.29%.
• Transocean reported quarterly revenue of $1.08 billion, up 19.3% year over year, but missed earnings expectations with a loss of $0.03 per share. Analysts have a consensus “Hold” rating and an average price target of $6.82.

Cetera Investment Advisers boosted its holdings in shares of Transocean Ltd. (NYSE:RIG - Free Report) by 88.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 875,719 shares of the offshore drilling services provider's stock after acquiring an additional 411,274 shares during the period. Cetera Investment Advisers owned approximately 0.08% of Transocean worth $5,806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. raised its position in shares of Transocean by 22,432.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider's stock worth $26,000 after purchasing an additional 6,281 shares during the period. Josh Arnold Investment Consultant LLC bought a new position in shares of Transocean during the 2nd quarter valued at about $26,000. Flagship Harbor Advisors LLC acquired a new position in shares of Transocean in the 4th quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Transocean in the 3rd quarter valued at approximately $31,000. Finally, Larson Financial Group LLC increased its stake in Transocean by 203.8% during the 3rd quarter. Larson Financial Group LLC now owns 11,030 shares of the offshore drilling services provider's stock worth $34,000 after purchasing an additional 7,399 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Transocean news, Director Chad C. Deaton bought 35,000 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was acquired at an average price of $4.95 per share, with a total value of $173,250.00. Following the completion of the transaction, the director owned 237,421 shares in the company, valued at approximately $1,175,233.95. This trade represents a 17.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.70% of the company's stock.

Transocean Trading Down 0.1%

NYSE RIG opened at $5.32 on Monday. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -1.78, a PEG ratio of 3.79 and a beta of 1.32. The stock's 50 day moving average price is $5.50 and its two-hundred day moving average price is $5.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. Transocean Ltd. has a 52 week low of $2.72 and a 52 week high of $7.66.

Transocean (NYSE:RIG - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The company's revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company earned ($0.10) EPS. As a group, analysts anticipate that Transocean Ltd. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RIG has been the topic of several research analyst reports. Barclays upgraded shares of Transocean from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Susquehanna reduced their price target on shares of Transocean from $8.00 to $7.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Transocean in a research report on Friday, July 17th. Morgan Stanley raised their price objective on shares of Transocean from $5.00 to $7.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 15th. Finally, TD Cowen boosted their price objective on shares of Transocean from $5.50 to $6.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.82.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean's fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company's core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.

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