In yesterday’s Wall Street session, Transocean Ltd (NYSE:RIG) shares traded at $6.55, up 0.31% from the previous session.
RIG stock price is now 19.38% away from the 50-day moving average and -3.14% away from the 200-day moving average. The market capitalization of the company currently stands at $5.30B.
With the price target enhanced from $5.50 to $9, Susquehanna Upgraded its rating from Neutral to Positive for Transocean Ltd (NYSE: RIG). On November 28, 2023, CapitalOne recently initiated its ‘Equal Weight’ rating on the stock quoting a target price of $8, while ‘Citigroup’ 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 $560.52 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 $560.52 million. A total of 12.01% 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 $5.50 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 $795.89M in revenue.
