For Transocean Ltd. [RIG], Analyst sees a rise to $5. What next?

Transocean Ltd. [NYSE: RIG] surged by $0.43 during the normal trading session on Friday and reaching a high of $4.54 during the day while it closed the day at $4.42. 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. stock has also gained 8.87% of its value over the past 7 days. However, RIG stock has inclined by 27.75% in the 3 months of the year. Over the past six months meanwhile, it has gained 17.55% and gained 60.14% year-on date.

The market cap for RIG stock reached $2.88 billion, with 714.00 million shares outstanding and 669.76 million shares in the current float. Compared to the average trading volume of 23.72M shares, RIG reached a trading volume of 37900090 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]:

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 0.26, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 0.28, with the Price to Cash per share for the same quarter was set at 1.46. Price to Free Cash Flow for RIG in the course of the last twelve months was 37.90 with Quick ratio for the last quarter at 1.40.

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 8.87. With this latest performance, RIG shares gained by 49.83% in over the last four-week period, additionally plugging by 17.55% over the last 6 months – not to mention a rise of 28.12% 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 68.06, with the RSI for the last a single of trading hit 70.20, and the three-weeks RSI is set at 65.23 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 4.14 for the last single week of trading, and 3.68 for the last 200 days.

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

Transocean Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.60.

Transocean Ltd. [RIG]: Insider Ownership positions

There are presently around $1,709 million, or 54.40% 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 11.50% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 47,064,306 shares of the stock with an approximate value of $208.02 million in RIG stocks shares; and CONTRARIUS INVESTMENT MANAGEMENT LTD, currently with $122.43 million in RIG stock with ownership of nearly 19.643% 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 142 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 34,881,075 shares. Additionally, 139 investors decreased positions by around 36,373,017 shares, while 95 investors held positions by with 315,480,751 shares. The mentioned changes placed institutional holdings at 386,734,843 shares, according to the latest SEC report filing. RIG stock had 42 new institutional investments in for a total of 11,961,713 shares, while 42 institutional investors sold positions of 5,423,271 shares during the same period.


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