The stock of Transocean Ltd (NYSE:RIG) last traded at $6.03, up 0.50% from the previous session.
RIG stock price is now 2.03% away from the 50-day moving average and -7.36% away from the 200-day moving average. The market capitalization of the company currently stands at $4.94B.
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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, Perestroika (Cyprus) Ltd, Director bought 2,000,000 shares of the company’s stock on May 15 ’24. The stock was bought for $12,020,000 at an average price of $6.01. Upon completion of the transaction, the Director now directly owns 87,574,894 shares in the company, valued at $528.08 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 15 ’24, Director Mohn Frederik Wilhelm bought 2,000,000 shares of the business’s stock. A total of $12,020,000 was incurred on buying the stock at an average price of $6.01. This leaves the insider owning 87,574,894 shares of the company worth $528.08 million. A total of 11.85% 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 0.69, a current ratio of 1.35, and a quick ratio of 1.04.
According to the Oil & Gas Drilling Company, earnings per share came in at -0.15, missing analysts’ expectations of -0.14 by -0.01. This compares to -$0.64 EPS in the same period last year. The net profit margin was -13.27% and return on equity was -3.75% for RIG. The company reported revenue of $763.0 million for the quarter, compared to $649.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.57 percent. For the current quarter, analysts expect RIG to generate $865.27M in revenue.
