Investment Analysts’ Recent Ratings Changes for Transocean (RIG)

Several analysts have recently updated their ratings and price targets for Transocean (NYSE: RIG):

• 10/15/2024 – Transocean was downgraded by analysts at Benchmark Co. from a “buy” rating to a “hold” rating.
• 10/11/2024 – Transocean had its price target lowered by analysts at Susquehanna from $8.00 to $7.00. They now have a “positive” rating on the stock.
• 10/10/2024 – Transocean was upgraded by analysts at StockNews.com to a “sell” rating.
• 10/3/2024 – Transocean had its price target raised by analysts at Morgan Stanley from $5.00 to $6.00. They now have an “equal weight” rating on the stock.
• 9/26/2024 – Transocean was upgraded by analysts at StockNews.com to a “sell” rating.
• 9/16/2024 – Transocean had its price target lowered by analysts at Morgan Stanley from $7.00 to $5.00. They now have an “equal weight” rating on the stock.
• 9/12/2024 – Transocean was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating.
• 9/3/2024 – Transocean was upgraded by analysts at DNB Markets from a “hold” rating to a “buy” rating.

Transocean Trading Up 3.3 %

RIG opened at $4.13 on Thursday. Transocean Ltd. has a one year low of $3.85 and a one year high of $7.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.36 and a quick ratio of 1.08. The business has a 50 day simple moving average of $4.57 and a two-hundred day simple moving average of $5.26. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -7.94 and a beta of 2.79.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, July 31st. The offshore drilling services provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The business had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $862.25 million. Transocean had a negative return on equity of 4.76% and a negative net margin of 11.34%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) EPS. Analysts predict that Transocean Ltd. will post -0.18 EPS for the current year.

Insider Buying and Selling

In other news, Director Perestroika acquired 1,500,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Transocean news, Director Perestroika bought 1,500,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $4.13 per share, for a total transaction of $6,195,000.00. Following the acquisition, the director now owns 91,074,894 shares in the company, valued at approximately $376,139,312.22. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director (Cyprus) Ltd Perestroika bought 2,000,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $5.23 per share, with a total value of $10,460,000.00. Following the completion of the acquisition, the director now directly owns 89,574,894 shares of the company’s stock, valued at approximately $468,476,695.62. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 13.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Transocean

A number of institutional investors have recently made changes to their positions in RIG. Murphy Pohlad Asset Management LLC lifted its position in Transocean by 1.7% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 96,150 shares of the offshore drilling services provider’s stock valued at $604,000 after acquiring an additional 1,600 shares in the last quarter. Traynor Capital Management Inc. lifted its holdings in shares of Transocean by 5.2% during the first quarter. Traynor Capital Management Inc. now owns 33,257 shares of the offshore drilling services provider’s stock valued at $209,000 after purchasing an additional 1,650 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Transocean by 8.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 22,237 shares of the offshore drilling services provider’s stock valued at $140,000 after buying an additional 1,767 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after buying an additional 2,693 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Transocean by 11.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,714 shares of the offshore drilling services provider’s stock worth $176,000 after buying an additional 2,743 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

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.