Transocean Ltd. (NYSE:RIG) Stock Position Lifted by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd increased its stake in Transocean Ltd. (NYSE:RIG) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,167 shares of the offshore drilling services provider’s stock after purchasing an additional 7,166 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Transocean were worth $156,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Nuveen LLC bought a new stake in shares of Transocean in the 1st quarter worth approximately $7,774,000. Hosking Partners LLP lifted its holdings in shares of Transocean by 26.1% in the 1st quarter. Hosking Partners LLP now owns 2,150,664 shares of the offshore drilling services provider’s stock worth $6,818,000 after purchasing an additional 444,521 shares during the last quarter. Wealthspire Advisors LLC bought a new stake in shares of Transocean in the 1st quarter worth approximately $105,000. Costello Asset Management INC bought a new stake in shares of Transocean in the 1st quarter worth approximately $32,000. Finally, Cedar Wealth Management LLC lifted its holdings in shares of Transocean by 19.6% in the 1st quarter. Cedar Wealth Management LLC now owns 124,542 shares of the offshore drilling services provider’s stock worth $395,000 after purchasing an additional 20,414 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on RIG shares. Morgan Stanley cut their target price on Transocean from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research note on Friday, May 16th. BTIG Research set a $5.00 target price on Transocean and gave the company a “buy” rating in a research note on Monday, May 5th. Barclays set a $4.00 target price on Transocean and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wall Street Zen raised Transocean from a “sell” rating to a “hold” rating in a research note on Sunday. Seven 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, the company presently has a consensus rating of “Hold” and a consensus price target of $4.26.

Transocean Stock Up 2.4%

Shares of RIG stock opened at $3.01 on Thursday. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $5.26. The stock has a market cap of $2.84 billion, a PE ratio of -1.62, a price-to-earnings-growth ratio of 6.28 and a beta of 2.52. The business’s fifty day moving average is $2.88 and its 200-day moving average is $2.88. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.26.

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.