The stock of Transocean Ltd (NYSE:RIG) last traded at $6.11, up 5.89% from the previous session.
RIG stock price is now 2.21% away from the 50-day moving average and -5.09% away from the 200-day moving average. The market capitalization of the company currently stands at $5.01B.
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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 $535.08 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 $535.08 million. A total of 12.11% 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. The fifty day moving average price for RIG is $5.978 and a two-hundred day moving average price translates $6.4377 for the stock.
The latest earnings results from Transocean Ltd (NYSE: RIG) was released for 2024-03-31. 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 $862.7M in revenue.
Transocean Ltd(RIG) Company Profile
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. It serves integrated energy companies, government-owned or government-controlled energy companies, and other independent energy companies. The company was founded in 1926 and is based in Steinhausen, Switzerland.
