In yesterday’s Wall Street session, Transocean Ltd. (NYSE:RIG) shares traded at $8.49, down -0.12% from the previous session.
As of this writing, 17 analysts cover Transocean Ltd. (NYSE:RIG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $5.00, we find $8.00. Given the previous closing price of $8.50, this indicates a potential downside of -5.88 percent. RIG stock price is now 19.61% away from the 50-day moving average and 43.71% away from the 200-day moving average. The market capitalization of the company currently stands at $6.52B.
There are 6 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $8.28 as their price target over the next twelve months.
With the price target enhanced from $6.50 to $9.50, Citigroup Upgraded its rating from Neutral to Buy for Transocean Ltd. (NYSE: RIG).
In other news, Mey Mark-Anthony Lovell, EVP & CFO sold 396,170 shares of the company’s stock on Aug 03. The stock was sold for $3,367,445 at an average price of $8.50. Upon completion of the transaction, the EVP & CFO now directly owns 984,317 shares in the company, valued at $8.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 18, SVP – CHIEF ACCOUNTING OFFICER Tonnel David A sold 1,754 shares of the business’s stock. A total of $15,365 was realized by selling the stock at an average price of $8.76. This leaves the insider owning 475,048 shares of the company worth $4.03 million. Insiders disposed of 2,768,467 shares of company stock worth roughly $23.5 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RIG stock. A new stake in Transocean Ltd. shares was purchased by ORBIS ALLAN GRAY LTD during the first quarter worth $148,546,000. CAPITAL WORLD INVESTORS invested $84,442,000 in shares of RIG during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in Transocean Ltd. valued at approximately $77,758,000. ENSIGN PEAK ADVISORS, INC acquired a new stake in RIG for approximately $25,274,000. BARROW HANLEY MEWHINNEY & STRAUSS LLC purchased a new stake in RIG valued at around $13,481,000 in the second quarter. In total, there are 514 active investors with 56.60% ownership of the company’s stock.
Friday morning saw Transocean Ltd. (NYSE: RIG) opened at $8.61. During the past 12 months, Transocean Ltd. has had a low of $2.33 and a high of $8.82. As of last week, the company has a debt-to-equity ratio of 0.72, a current ratio of 2.00, and a quick ratio of 1.60. The fifty day moving average price for RIG is $7.14 and a two-hundred day moving average price translates $5.93 for the stock.
The latest earnings results from Transocean Ltd. (NYSE: RIG) was released for Jun, 2023. According to the Oil & Gas Drilling Company, earnings per share came in at -$0.15, missing analysts’ expectations of -$0.14 by -0.01. This compares to -$0.10 EPS in the same period last year. The net profit margin was -37.70% and return on equity was -9.40% for RIG. The company reported revenue of $729.0 million for the quarter, compared to $692.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.35 percent. For the current quarter, analysts expect RIG to generate $724.37M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/23/2015. Investors who held shares on 08/25/2015 were paid a $0.15 dividend.
Transocean Ltd.(RIG) Company Profile
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It serves integrated energy companies, government-owned or government-controlled energy companies, and other independent energy companies. Transocean Ltd. was founded in 1926 and is based in Steinhausen, Switzerland.
