Transocean Ltd. [NYSE: RIG] loss -2.40% on the last trading session, reaching $4.06 price per share at the time. The company report on November 2, 2022 that Transocean Ltd. Reports Third Quarter 2022 Results.
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Total contract drilling revenues were $691 million, compared to $692 million in the second quarter of 2022 (total adjusted contract drilling revenues of $730 million, compared to $722 million in the second quarter of 2022);.
Revenue efficiency(1) was 95.0%, compared to 97.8% in the prior quarter;.
Transocean Ltd. represents 692.00 million in outstanding shares, while the company has a total market value of $2.88 billion with the latest information. RIG stock price has been found in the range of $3.98 to $4.34.
If compared to the average trading volume of 23.17M shares, RIG reached a trading volume of 36132248 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Transocean Ltd. [RIG]:
Barclays have made an estimate for Transocean Ltd. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 06, 2022. The new note on the price target was released on September 06, 2022, representing the official price target for Transocean Ltd. stock.
The Average True Range (ATR) for Transocean Ltd. is set at 0.24, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 0.25, with the Price to Cash per share for the same quarter was set at 1.03. Price to Free Cash Flow for RIG in the course of the last twelve months was 77.86 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for RIG stock
Transocean Ltd. [RIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.15. With this latest performance, RIG shares gained by 26.87% in over the last four-week period, additionally sinking by -1.46% over the last 6 months – not to mention a rise of 11.23% 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 68.98, with the RSI for the last a single of trading hit 73.35, and the three-weeks RSI is set at 64.55 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 3.25, while it was recorded at 3.83 for the last single week of trading, and 3.66 for the last 200 days.
Transocean Ltd. [RIG]: A deeper dive into fundamental analysis
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.
An analysis of insider ownership at Transocean Ltd. [RIG]
There are presently around $1,547 million, or 54.80% 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 $191.08 million in RIG stocks shares; and VAN ECK ASSOCIATES CORP, currently with $102.96 million in RIG stock with ownership of nearly -23.494% of the company’s market capitalization.
Positions in Transocean Ltd. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 136 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 35,835,529 shares. Additionally, 142 investors decreased positions by around 38,224,838 shares, while 101 investors held positions by with 307,092,120 shares. The mentioned changes placed institutional holdings at 381,152,487 shares, according to the latest SEC report filing. RIG stock had 49 new institutional investments in for a total of 14,572,766 shares, while 39 institutional investors sold positions of 7,845,102 shares during the same period.