Transocean Ltd. [RIG] Stock trading around $5.66 per share: What’s Next?

Transocean Ltd. [NYSE: RIG] price surged by 3.85 percent to reach at $0.21. The company report on January 9, 2023 that Transocean Ltd. Announces Pricing of $525 Million of Secured Notes Due 2028.

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The Notes will be guaranteed by Transocean Ltd., Transocean Inc., and a wholly-owned indirect subsidiary that owns and initially will operate the Deepwater Titan and will be secured by a lien on the Deepwater Titan and certain other assets related to the rig.

A sum of 24898088 shares traded at recent session while its average daily volume was at 22.29M shares. Transocean Ltd. shares reached a high of $5.67 and dropped to a low of $5.40 until finishing in the latest session at $5.66.

The one-year RIG stock forecast points to a potential downside of -5.99. The average equity rating for RIG stock is currently 2.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Transocean Ltd. [RIG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIG shares is $5.34 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIG stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.29, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 0.36, with the Price to Cash per share for the same quarter was set at 1.37. Price to Free Cash Flow for RIG in the course of the last twelve months was 51.77 with Quick ratio for the last quarter at 1.40.

RIG Stock Performance Analysis:

Transocean Ltd. [RIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.51. With this latest performance, RIG shares gained by 37.38% in over the last four-week period, additionally plugging by 122.83% over the last 6 months – not to mention a rise of 62.64% 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 74.63, with the RSI for the last a single of trading hit 80.83, and the three-weeks RSI is set at 70.39 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 4.33, while it was recorded at 5.43 for the last single week of trading, and 3.77 for the last 200 days.

Insight into Transocean Ltd. 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 1.60.

Transocean Ltd. [RIG] Insider Position Details

There are presently around $2,237 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 $265.75 million in RIG stocks shares; and CONTRARIUS INVESTMENT MANAGEMENT LTD, currently with $156.77 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 February and at the time of the February reporting period, where 154 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 50,649,979 shares. Additionally, 133 investors decreased positions by around 35,715,691 shares, while 92 investors held positions by with 308,908,192 shares. The mentioned changes placed institutional holdings at 395,273,862 shares, according to the latest SEC report filing. RIG stock had 51 new institutional investments in for a total of 13,109,192 shares, while 37 institutional investors sold positions of 5,062,490 shares during the same period.

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