Transocean Ltd. [RIG] Revenue clocked in at $2.52 billion, up 35.87% YTD: What’s Next?

Transocean Ltd. [NYSE: RIG] surged by $0.15 during the normal trading session on Friday and reaching a high of $3.78 during the day while it closed the day at $3.75. The company report on September 6, 2022 that Transocean Ltd. Announces $181 Million in Contracts for Ultra-Deepwater Drillship Deepwater Asgard.

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Transocean Ltd. (NYSE: RIG) announced today that the ultra-deepwater drillship, Deepwater Asgard, received two contract awards in the U.S. Gulf of Mexico for a total of approximately 14 months of work, adding $181 million in firm backlog.

Transocean Ltd. stock has also gained 10.29% of its value over the past 7 days. However, RIG stock has declined by -18.30% in the 3 months of the year. Over the past six months meanwhile, it has lost -24.40% and gained 35.87% year-on date.

The market cap for RIG stock reached $2.54 billion, with 692.00 million shares outstanding and 653.59 million shares in the current float. Compared to the average trading volume of 18.37M shares, RIG reached a trading volume of 13811556 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]:

BTIG Research have made an estimate for Transocean Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 06, 2022. The new note on the price target was released on August 02, 2022, representing the official price target for Transocean Ltd. stock. Previously, the target price had yet another raise to $5, while Pareto analysts kept a Hold rating on RIG stock.

The Average True Range (ATR) for Transocean Ltd. is set at 0.21, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.01. The Price to Book ratio for the last quarter was 0.23, with the Price to Cash per share for the same quarter was set at 1.08. Price to Free Cash Flow for RIG in the course of the last twelve months was 68.66 with Quick ratio for the last quarter at 1.20.

RIG stock trade performance evaluation

Transocean Ltd. [RIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.29. With this latest performance, RIG shares gained by 5.93% in over the last four-week period, additionally sinking by -24.40% over the last 6 months – not to mention a rise of 5.04% 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 58.01, with the RSI for the last a single of trading hit 61.31, and the three-weeks RSI is set at 55.64 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 3.30, while it was recorded at 3.61 for the last single week of trading, and 3.65 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 1.20 and a Current Ratio set at 1.50.

Transocean Ltd. [RIG]: Insider Ownership positions

There are presently around $1,452 million, or 56.00% of RIG stock, in the hands of institutional investors. The top three institutional holders of RIG stocks are: VANGUARD GROUP INC with ownership of 55,150,263, which is approximately 4.638% of the company’s market cap and around 11.70% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 47,064,306 shares of the stock with an approximate value of $176.49 million in RIG stocks shares; and VAN ECK ASSOCIATES CORP, currently with $124.3 million in RIG stock with ownership of nearly -4.997% of the company’s market capitalization.

Positions in Transocean Ltd. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 128 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 35,129,597 shares. Additionally, 158 investors decreased positions by around 33,278,105 shares, while 97 investors held positions by with 318,845,631 shares. The mentioned changes placed institutional holdings at 387,253,333 shares, according to the latest SEC report filing. RIG stock had 48 new institutional investments in for a total of 14,564,218 shares, while 51 institutional investors sold positions of 8,151,058 shares during the same period.


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