Market Analysts see Transocean Ltd. [RIG] gaining to $7. Time to buy?

Transocean Ltd. [NYSE: RIG] surged by $0.02 during the normal trading session on Friday and reaching a high of $7.07 during the day while it closed the day at $6.68. The company report on February 21, 2023 that Transocean Ltd. Reports Fourth Quarter and Full Year 2022 Results.

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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 loss -11.05% of its value over the past 7 days. However, RIG stock has inclined by 82.02% in the 3 months of the year. Over the past six months meanwhile, it has gained 85.56% and gained 46.49% year-on date.

The market cap for RIG stock reached $4.84 billion, with 726.00 million shares outstanding and 669.76 million shares in the current float. Compared to the average trading volume of 23.01M shares, RIG reached a trading volume of 26434614 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 $6.56 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 0.46, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.88. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 0.94.

RIG stock trade performance evaluation

Transocean Ltd. [RIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.05. With this latest performance, RIG shares dropped by -11.17% in over the last four-week period, additionally plugging by 85.56% over the last 6 months – not to mention a rise of 35.77% 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 46.41, with the RSI for the last a single of trading hit 40.25, and the three-weeks RSI is set at 50.65 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 6.40, while it was recorded at 7.06 for the last single week of trading, and 4.28 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 $3,085 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 $311.05 million in RIG stocks shares; and D. E. SHAW & CO., INC., currently with $233.15 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 185 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 98,202,019 shares. Additionally, 151 investors decreased positions by around 38,585,691 shares, while 87 investors held positions by with 325,080,528 shares. The mentioned changes placed institutional holdings at 461,868,238 shares, according to the latest SEC report filing. RIG stock had 82 new institutional investments in for a total of 29,368,954 shares, while 43 institutional investors sold positions of 13,818,798 shares during the same period.


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