Transocean Ltd [RIG] moved up 4.33: Why It’s Important

Transocean Ltd [NYSE: RIG] closed the trading session at $6.50 on 11/17/23. The day’s price range saw the stock hit a low of $6.31, while the highest price level was $6.525. The company report on October 30, 2023 at 5:38 PM that Transocean Ltd. Reports Third Quarter 2023 Results.

Total contract drilling revenues were $713 million, compared to $729 million in the second quarter of 2023 (total adjusted contract drilling revenues of $721 million, compared to $748 million in the second quarter of 2023);.

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Revenue efficiency(1) was 95.4%, compared to 97.2% in the prior quarter;.

The stocks have a year to date performance of 42.54 percent and weekly performance of -2.26 percent. The stock has been moved at 9.61 percent over the last six months. The stock has performed -12.04 percent around the most recent 30 days and changed -19.75 percent over the most recent 3-months.

If compared to the average trading volume of 14.81M shares, RIG reached to a volume of 12414313 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 $8.75 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 2.47. 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.

Citigroup have made an estimate for Transocean Ltd shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 05, 2023.

The Average True Range (ATR) for Transocean Ltd is set at 0.31, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.95. The Price to Book ratio for the last quarter was 0.49, with the Price to Cash per share for the same quarter was set at 1.00.

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 -2.26. With this latest performance, RIG shares dropped by -12.04% in over the last four-week period, additionally plugging by 9.61% over the last 6 months – not to mention a rise of 51.87% 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 40.10, with the RSI for the last a single of trading hit 42.38, and the three-weeks RSI is set at 39.95 for Transocean Ltd [RIG]. The present Moving Average for the last 50 days of trading for this stock 7.44, while it was recorded at 6.50 for the last single week of trading, and 7.08 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 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 1.32 and a Current Ratio set at 1.67.

Transocean Ltd [RIG]: Institutional Ownership

The top three institutional holders of RIG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in RIG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in RIG stock with ownership which is approximately 5.7994%.