Transocean Ltd. [NYSE: RIG] surged by $0.15 during the normal trading session on Friday and reaching a high of $7.61 during the day while it closed the day at $7.51. The company report on February 21, 2023 that Transocean Ltd. Reports Fourth Quarter and Full Year 2022 Results.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Total contract drilling revenues were $606 million, compared to $691 million in the third quarter of 2022 (total adjusted contract drilling revenues of $625 million, compared to $730 million in the third quarter of 2022);.
Revenue efficiency(1) was 98.0%, compared to 95.0% in the prior quarter;.
Transocean Ltd. stock has also gained 11.26% of its value over the past 7 days. However, RIG stock has inclined by 76.71% in the 3 months of the year. Over the past six months meanwhile, it has gained 107.46% and gained 64.69% year-on date.
The market cap for RIG stock reached $5.35 billion, with 726.00 million shares outstanding and 669.76 million shares in the current float. Compared to the average trading volume of 22.98M shares, RIG reached a trading volume of 19707766 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIG shares is $6.19 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 2.70. 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 Equal Weight, with their previous recommendation back on February 16, 2023. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on January 19, 2023, representing the official price target for Transocean Ltd. stock. Previously, the target price had yet another raise from $3.50 to $5, while Barclays kept a Overweight rating on RIG stock.
The Average True Range (ATR) for Transocean Ltd. is set at 0.44, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 0.51, with the Price to Cash per share for the same quarter was set at 0.96.
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 11.26. With this latest performance, RIG shares gained by 5.18% in over the last four-week period, additionally plugging by 107.46% over the last 6 months – not to mention a rise of 99.73% 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 63.24, with the RSI for the last a single of trading hit 64.86, and the three-weeks RSI is set at 63.30 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 6.15, while it was recorded at 7.16 for the last single week of trading, and 4.21 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 -0.82 and a Gross Margin at +6.25. Transocean Ltd.’s Net Margin is presently recorded at -24.12.
Return on Equity for this stock declined to -5.65, with Return on Assets sitting at -3.02.
Transocean Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.30.
Transocean Ltd. [RIG]: Insider Ownership positions
There are presently around $3,469 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 63,405,047, which is approximately 5.121% of the company’s market cap and around 0.10% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 46,564,489 shares of the stock with an approximate value of $349.7 million in RIG stocks shares; and D. E. SHAW & CO., INC., currently with $262.12 million in RIG stock with ownership of nearly 47.12% of the company’s market capitalization.
Positions in Transocean Ltd. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 186 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 98,203,114 shares. Additionally, 151 investors decreased positions by around 39,051,462 shares, while 87 investors held positions by with 324,615,416 shares. The mentioned changes placed institutional holdings at 461,869,992 shares, according to the latest SEC report filing. RIG stock had 83 new institutional investments in for a total of 29,370,049 shares, while 43 institutional investors sold positions of 13,818,798 shares during the same period.