Stocks of Transocean Ltd (NYSE:RIG) traded higher last session on Wall Street, down -0.52% to $5.77.
RIG stock price is now 8.60% away from the 50-day moving average and -14.60% away from the 200-day moving average. The market capitalization of the company currently stands at $4.67B.
With the price target of $8, CapitalOne recently initiated with Equal Weight rating for Transocean Ltd (NYSE: RIG). On July 05, 2023, Citigroup Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $6.50 to quote $9.50, while ‘Compass Point’ rates the stock as ‘Buy’
In other news, Mohn Frederik Wilhelm, Director bought 1,000,000 shares of the company’s stock on Feb 27 ’24. The stock was bought for $4,890,000 at an average price of $4.89. Upon completion of the transaction, the Director now directly owns 85,574,894 shares in the company, valued at $493.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 27 ’24, Director Perestroika (Cyprus) Ltd bought 1,000,000 shares of the business’s stock. A total of $4,890,000 was incurred on buying the stock at an average price of $4.89. This leaves the insider owning 85,574,894 shares of the company worth $493.77 million. A total of 11.81% of the company’s stock is owned by insiders.
During the past 12 months, Transocean Ltd has had a low of $4.45 and a high of $8.88. As of last week, the company has a debt-to-equity ratio of 0.75, a current ratio of 1.52, and a quick ratio of 1.22. The fifty day moving average price for RIG is $5.31 and a two-hundred day moving average price translates $6.76 for the stock.
The latest earnings results from Transocean Ltd (NYSE: RIG) was released for Dec, 2023. According to the Oil & Gas Drilling Company, earnings per share came in at -$0.09, beating analysts’ expectations of -$0.23 by 0.14. This compares to -$0.49 EPS in the same period last year. The net profit margin was -33.69% and return on equity was -9.00% for RIG. The company reported revenue of $741.0 million for the quarter, compared to $606.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 22.28 percent. For the current quarter, analysts expect RIG to generate $796.05M in revenue.
