Transocean Ltd. [NYSE: RIG] gained 0.94% on the last trading session, reaching $4.28 price per share at the time. The company report on December 7, 2022 that Transocean Ltd. Announces $1.04 Billion in Contract Awards for Two Ultra-Deepwater Drillships.
Deepwater Corcovado was awarded a four-year contract, which contributes an estimated $583 million in backlog and is expected to begin in the third quarter of 2023 in direct continuation of the rig’s current contract.
Transocean Ltd. represents 714.00 million in outstanding shares, while the company has a total market value of $3.06 billion with the latest information. RIG stock price has been found in the range of $4.03 to $4.33.
If compared to the average trading volume of 25.64M shares, RIG reached a trading volume of 21181972 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 0.26, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 0.27, with the Price to Cash per share for the same quarter was set at 1.33. Price to Free Cash Flow for RIG in the course of the last twelve months was 40.27 with Quick ratio for the last quarter at 1.40.
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 14.75. With this latest performance, RIG shares dropped by 0.00% in over the last four-week period, additionally plugging by 21.59% over the last 6 months – not to mention a rise of 46.58% 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 57.35, with the RSI for the last a single of trading hit 59.19, and the three-weeks RSI is set at 56.68 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 3.81, while it was recorded at 4.18 for the last single week of trading, and 3.75 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 1.40 and a Current Ratio set at 1.60.
An analysis of insider ownership at Transocean Ltd. [RIG]
There are presently around $1,723 million, or 56.60% of RIG stock, in the hands of institutional investors. The top three institutional holders of RIG stocks are: VANGUARD GROUP INC with ownership of 60,315,980, which is approximately 9.367% of the company’s market cap and around 0.10% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 46,953,106 shares of the stock with an approximate value of $200.96 million in RIG stocks shares; and CONTRARIUS INVESTMENT MANAGEMENT LTD, currently with $118.55 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 155 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 50,504,963 shares. Additionally, 134 investors decreased positions by around 35,281,954 shares, while 94 investors held positions by with 316,695,763 shares. The mentioned changes placed institutional holdings at 402,482,680 shares, according to the latest SEC report filing. RIG stock had 50 new institutional investments in for a total of 12,961,820 shares, while 37 institutional investors sold positions of 4,619,754 shares during the same period.