Is Transocean Ltd [RIG] a good investment? Don’t be fooled by its recent momentum

In yesterday’s Wall Street session, Transocean Ltd (NYSE:RIG) shares traded at $6.65, down -2.78% from the previous session.

17 analysts cover Transocean Ltd (NYSE:RIG), according to research data. 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 $6.00, we find $8.50. Given the previous closing price of $6.84, this indicates a potential upside of 24.27 percent. RIG stock price is now -14.14% away from the 50-day moving average and -6.02% away from the 200-day moving average. The market capitalization of the company currently stands at $5.38B.

The stock has received a hold rating from 7 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $8.85 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, Tonnel David A, SVP – CHIEF ACCOUNTING OFFICER sold 57,259 shares of the company’s stock on Aug 31. The stock was sold for $470,669 at an average price of $8.22. Upon completion of the transaction, the SVP – CHIEF ACCOUNTING OFFICER now directly owns 417,789 shares in the company, valued at $2.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, EVP & CFO Mey Mark-Anthony Lovell sold 396,170 shares of the business’s stock. A total of $3,367,445 was realized by selling the stock at an average price of $8.50. This leaves the insider owning 984,317 shares of the company worth $6.55 million. Insiders disposed of 3,221,896 shares of company stock worth roughly $21.43 million over the past 1 year. A total of 12.14% of the company’s stock is owned by insiders.

On Monday morning Transocean Ltd (NYSE: RIG) stock kicked off with the opening price of $6.90. During the past 12 months, Transocean Ltd has had a low of $3.65 and a high of $8.88. As of last week, the company has a debt-to-equity ratio of 0.72, a current ratio of 1.67, and a quick ratio of 1.32. The fifty day moving average price for RIG is $7.74 and a two-hundred day moving average price translates $7.08 for the stock.

The latest earnings results from Transocean Ltd (NYSE: RIG) was released for Sep, 2023. The net profit margin was -44.49% and return on equity was -11.14% for RIG. The company reported revenue of $713.0 million for the quarter, compared to $691.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.18 percent.

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.

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