Transocean Ltd. [RIG] is 27.54% higher this YTD. Is it still time to buy?

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Transocean Ltd. [NYSE: RIG] plunged by -$0.1 during the normal trading session on Friday and reaching a high of $3.76 during the day while it closed the day at $3.52. The company report on June 6, 2022 that Transocean Ltd. Announces $181 Million Contract Extension for Harsh Environment Semisubmersible Transocean Spitsbergen.


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Transocean Ltd. (NYSE: RIG) announced today that Equinor Energy AS has awarded an additional nine wells plus two, one-well options to the contract for the harsh environment semisubmersible Transocean Spitsbergen for work offshore Norway. The firm part of the contract extension, with an estimated backlog of $181 million, is expected to begin in October 2023 and conclude in April 2025.

The estimated firm backlog excludes revenue associated with performance incentives, additional services, and option periods provided for in the contract.

Transocean Ltd. stock has also loss -20.00% of its value over the past 7 days. However, RIG stock has declined by -17.37% in the 3 months of the year. Over the past six months meanwhile, it has gained 20.55% and gained 27.54% year-on date.

The market cap for RIG stock reached $2.47 billion, with 664.00 million shares outstanding and 628.95 million shares in the current float. Compared to the average trading volume of 19.09M shares, RIG reached a trading volume of 40143044 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Transocean Ltd. [RIG]:

Pareto have made an estimate for Transocean Ltd. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 24, 2022. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on February 08, 2022, representing the official price target for Transocean Ltd. stock. On September 16, 2020, analysts decreased their price target for RIG shares from 2.50 to 1.15.

The Average True Range (ATR) for Transocean Ltd. is set at 0.31, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 0.21, with the Price to Cash per share for the same quarter was set at 1.30. Price to Free Cash Flow for RIG in the course of the last twelve months was 11.06 with Quick ratio for the last quarter at 1.40.

RIG stock trade performance evaluation

Transocean Ltd. [RIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.00. With this latest performance, RIG shares dropped by -11.34% in over the last four-week period, additionally plugging by 20.55% over the last 6 months – not to mention a drop of -9.28% 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 35.45, with the RSI for the last a single of trading hit 28.33, and the three-weeks RSI is set at 39.78 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 4.10, while it was recorded at 3.79 for the last single week of trading, and 3.74 for the last 200 days.

Transocean Ltd. [RIG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Transocean Ltd. [RIG] shares currently have an operating margin of -1.96 and a Gross Margin at +4.58. Transocean Ltd.’s Net Margin is presently recorded at -23.16.

Return on Equity for this stock declined to -5.23, with Return on Assets sitting at -2.79.

Transocean Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.70.

Transocean Ltd. [RIG]: Insider Ownership positions

There are presently around $1,357 million, or 57.60% of RIG stock, in the hands of institutional investors. The top three institutional holders of RIG stocks are: VANGUARD GROUP INC with ownership of 52,705,682, which is approximately 2.149% of the company’s market cap and around 12.80% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 47,393,606 shares of the stock with an approximate value of $166.82 million in RIG stocks shares; and VAN ECK ASSOCIATES CORP, currently with $122.81 million in RIG stock with ownership of nearly 7.433% of the company’s market capitalization.

Positions in Transocean Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 169 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 87,418,362 shares. Additionally, 139 investors decreased positions by around 27,736,913 shares, while 79 investors held positions by with 270,266,962 shares. The mentioned changes placed institutional holdings at 385,422,237 shares, according to the latest SEC report filing. RIG stock had 72 new institutional investments in for a total of 23,665,066 shares, while 49 institutional investors sold positions of 5,143,500 shares during the same period.

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