Transocean FY2024 EPS Lifted by Capital One Financial

Transocean Ltd. (NYSE:RIG) – Research analysts at Capital One Financial raised their FY2024 EPS estimates for shares of Transocean in a research note issued to investors on Thursday, February 13th. Capital One Financial analyst D. Becker now anticipates that the offshore drilling services provider will post earnings per share of ($0.09) for the year, up from their prior estimate of ($0.16). The consensus estimate for Transocean’s current full-year earnings is ($0.11) per share. Capital One Financial also issued estimates for Transocean’s Q4 2024 earnings at $0.00 EPS, Q1 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.05 EPS and FY2025 earnings at $0.02 EPS.

RIG has been the subject of a number of other reports. Susquehanna reduced their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Evercore ISI downgraded shares of Transocean from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $6.00 to $5.00 in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, December 6th. Finally, Barclays raised shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 price target on the stock in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.94.

Transocean Stock Down 2.6 %

NYSE:RIG opened at $3.54 on Monday. The firm has a market cap of $3.10 billion, a P/E ratio of -4.71, a P/E/G ratio of 0.75 and a beta of 2.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean has a fifty-two week low of $3.40 and a fifty-two week high of $6.88. The firm has a 50-day simple moving average of $3.84 and a two-hundred day simple moving average of $4.26.

Institutional Investors Weigh In On Transocean

Several institutional investors and hedge funds have recently modified their holdings of RIG. Pilgrim Global Advisors LLC bought a new stake in Transocean in the third quarter worth $77,473,000. American Century Companies Inc. increased its position in Transocean by 51.5% in the fourth quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock worth $72,215,000 after purchasing an additional 6,542,271 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Transocean in the fourth quarter worth $16,608,000. Van ECK Associates Corp boosted its stake in Transocean by 33.9% during the fourth quarter. Van ECK Associates Corp now owns 15,393,873 shares of the offshore drilling services provider’s stock worth $57,727,000 after buying an additional 3,895,880 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in Transocean during the fourth quarter worth $11,156,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Transocean

In other news, EVP Roderick James Mackenzie sold 22,000 shares of Transocean stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $4.05, for a total transaction of $89,100.00. Following the sale, the executive vice president now owns 229,596 shares in the company, valued at $929,863.80. This trade represents a 8.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 13.16% of the company’s stock.

About Transocean

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.