Transocean Ltd. [NYSE: RIG] slipped around -0.08 points on Friday, while shares priced at $2.84 at the close of the session, down -2.74%. The company report on November 1, 2021 that Transocean Ltd. Reports Third Quarter 2021 Results.
Total contract drilling revenues were $626 million, compared to $656 million in the second quarter of 2021 (total adjusted contract drilling revenues of $683 million, compared to $713 million in the second quarter of 2021);.
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Revenue efficiency(1) was 98.1%, compared to 98.0% in the prior quarter;.
Transocean Ltd. stock is now 22.94% up from its year-to-date (YTD) trading value. RIG Stock saw the intraday high of $3.0199 and lowest of $2.79 per share. The company’s 52-week high price is 5.13, which means current price is +26.22% above from all time high which was touched on 07/02/21.
Compared to the average trading volume of 17.90M shares, RIG reached a trading volume of 16266843 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Transocean Ltd. [RIG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIG shares is $2.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIG stock is a recommendation set at 3.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Transocean Ltd. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 05, 2021. While these analysts kept the previous recommendation, Susquehanna dropped their target price from $2.50 to $1.15. The new note on the price target was released on September 16, 2020, representing the official price target for Transocean Ltd. stock. Previously, the target price had yet another raise to $4, while Evercore ISI analysts kept a In-line rating on RIG stock.
The Average True Range (ATR) for Transocean Ltd. is set at 0.20, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 0.74. The Price to Book ratio for the last quarter was 0.16, with the Price to Cash per share for the same quarter was set at 1.31. Price to Free Cash Flow for RIG in the course of the last twelve months was 4.04 with Quick ratio for the last quarter at 1.60.
How has RIG stock performed recently?
Transocean Ltd. [RIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.96. With this latest performance, RIG shares dropped by -22.40% in over the last four-week period, additionally sinking by -29.53% over the last 6 months – not to mention a rise of 39.90% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RIG stock in for the last two-week period is set at 31.26, with the RSI for the last a single of trading hit 26.81, and the three-weeks RSI is set at 35.23 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 3.59, while it was recorded at 2.95 for the last single week of trading, and 3.70 for the last 200 days.
Transocean Ltd. [RIG]: Deeper insight into the fundamentals
Transocean Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.90.
Earnings analysis for Transocean Ltd. [RIG]
With the latest financial reports released by the company, Transocean Ltd. posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Transocean Ltd. go to 4.80%.
Insider trade positions for Transocean Ltd. [RIG]
There are presently around $921 million, or 50.60% of RIG stock, in the hands of institutional investors. The top three institutional holders of RIG stocks are: VANGUARD GROUP INC with ownership of 51,461,209, which is approximately -5.006% of the company’s market cap and around 12.30% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 47,947,006 shares of the stock with an approximate value of $136.17 million in RIG stocks shares; and VAN ECK ASSOCIATES CORP, currently with $87.75 million in RIG stock with ownership of nearly -6.899% of the company’s market capitalization.
130 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 23,348,076 shares. Additionally, 131 investors decreased positions by around 42,730,475 shares, while 83 investors held positions by with 258,344,293 shares. The mentioned changes placed institutional holdings at 324,422,844 shares, according to the latest SEC report filing. RIG stock had 42 new institutional investments in for a total of 14,268,997 shares, while 43 institutional investors sold positions of 6,667,291 shares during the same period.