Transocean Ltd (NYSE:RIG) shares traded 0.97% higher at $4.16 on Wall Street last session.
RIG stock price is now -19.00% away from the 50-day moving average and -25.54% away from the 200-day moving average. The market capitalization of the company currently stands at $3.64B.
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On April 08, 2024, Susquehanna Upgraded its previous ‘Neutral’ rating to ‘Positive’ on the stock increasing its target price from $5.50 to quote $9, while ‘CapitalOne’ rates the stock as ‘Equal Weight’
In other news, Perestroika (Cyprus) Ltd, Director bought 2,000,000 shares of the company’s stock on Aug 02 ’24. The stock was bought for $10,460,000 at an average price of $5.23. Upon completion of the transaction, the Director now directly owns 89,574,894 shares in the company, valued at $372.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02 ’24, Director Perestroika bought 2,000,000 shares of the business’s stock. A total of $10,460,000 was incurred on buying the stock at an average price of $5.23. This leaves the insider owning 89,574,894 shares of the company worth $372.63 million. A total of 16.89% of the company’s stock is owned by insiders.
During the past 12 months, Transocean Ltd has had a low of $4.07 and a high of $8.88. As of last week, the company has a debt-to-equity ratio of 0.68, a current ratio of 1.36, and a quick ratio of 1.08. The fifty day moving average price for RIG is $5.1122 and a two-hundred day moving average price translates $5.57555 for the stock.
The latest earnings results from Transocean Ltd (NYSE: RIG) was released for 2024-06-30. The net profit margin was -11.34% and return on equity was -3.31% for RIG. The company reported revenue of $861.0 million for the quarter, compared to $729.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.11 percent. For the current quarter, analysts expect RIG to generate $948.01M in revenue.
