Transocean Ltd. [NYSE: RIG] price plunged by -2.57 percent to reach at -$0.16. The company report on April 19, 2023 at 4:28 PM that Eneti Inc. and Transocean Ltd. Announce Intention to Enter into Joint Venture for Offshore Wind Foundation Installation.
Transocean has three hundred plus rig-years of experience operating a global fleet of dynamically positioned offshore drilling rigs to a diverse base of energy-producing customers on long-term contracts.
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A sum of 12906471 shares traded at recent session while its average daily volume was at 22.23M shares. Transocean Ltd. shares reached a high of $6.24 and dropped to a low of $5.98 until finishing in the latest session at $6.06.
The one-year RIG stock forecast points to a potential upside of 17.89. The average equity rating for RIG stock is currently 2.70, 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 $7.38 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.
Compass Point have made an estimate for Transocean Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 22, 2023. The new note on the price target was released on February 16, 2023, representing the official price target for Transocean Ltd. stock. Previously, the target price had yet another raise to $7.50, while The Benchmark Company analysts kept a Buy rating on RIG stock. On October 06, 2022, analysts increased their price target for RIG shares from 3.50 to 5.
The Average True Range (ATR) for Transocean Ltd. is set at 0.36, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.77. The Price to Book ratio for the last quarter was 0.41, with the Price to Cash per share for the same quarter was set at 0.91.
RIG Stock Performance Analysis:
Transocean Ltd. [RIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.48. With this latest performance, RIG shares gained by 0.50% in over the last four-week period, additionally plugging by 79.82% over the last 6 months – not to mention a rise of 35.27% 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 41.82, with the RSI for the last a single of trading hit 36.22, and the three-weeks RSI is set at 44.86 for Transocean Ltd. [RIG]. The present Moving Average for the last 50 days of trading for this stock 6.64, while it was recorded at 6.36 for the last single week of trading, and 4.64 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 -0.82 and a Gross Margin at +6.25. Transocean Ltd.’s Net Margin is presently recorded at -24.12.
Return on Total Capital for RIG is now -0.11, given the latest momentum, and Return on Invested Capital for the company is -3.43. Return on Equity for this stock declined to -5.65, with Return on Assets sitting at -3.02. When it comes to the capital structure of this company, Transocean Ltd. [RIG] has a Total Debt to Total Equity ratio set at 72.44. Additionally, RIG Total Debt to Total Capital is recorded at 42.01, with Total Debt to Total Assets ending up at 38.25. Long-Term Debt to Equity for the company is recorded at 65.34, with the Long-Term Debt to Total Capital now at 37.89.
Reflecting on the efficiency of the workforce at the company, Transocean Ltd. [RIG] managed to generate an average of -$116,292 per employee. Receivables Turnover for the company is 5.27 with a Total Asset Turnover recorded at a value of 0.13.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 Position Details
There are presently around $2,802 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 $282.18 million in RIG stocks shares; and D. E. SHAW & CO., INC., currently with $211.51 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 Monday and at the time of the Monday reporting period, where 186 institutional holders increased their position in Transocean Ltd. [NYSE:RIG] by around 98,550,215 shares. Additionally, 153 investors decreased positions by around 35,974,501 shares, while 84 investors held positions by with 327,847,701 shares. The mentioned changes placed institutional holdings at 462,372,417 shares, according to the latest SEC report filing. RIG stock had 78 new institutional investments in for a total of 29,160,639 shares, while 42 institutional investors sold positions of 11,734,128 shares during the same period.