Transocean Ltd [NYSE: RIG] plunged by -$0.15 during the normal trading session on while it closed the day at $4.67. The company report on February 19, 2024 at 5:21 PM that Transocean Ltd. Reports Fourth Quarter and Full Year 2023 Results.
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Transocean Ltd stock has also loss -7.16% of its value over the past 7 days. However, RIG stock has declined by -25.64% in the 3 months of the year. Over the past six months meanwhile, it has lost -40.66% and lost -26.46% year-on date.
The market cap for RIG stock reached $3.78 billion, with 809.03 million shares outstanding and 714.16 million shares in the current float. Compared to the average trading volume of 16.84M shares, RIG reached a trading volume of 18943238 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 $7.23 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 2.53. 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.
CapitalOne have made an estimate for Transocean Ltd shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on November 28, 2023. While these analysts kept the previous recommendation, Citigroup raised their target price from $6.50 to $9.50. The new note on the price target was released on July 05, 2023, representing the official price target for Transocean Ltd stock. Previously, the target price had yet another raise to $7.50, while Compass Point analysts kept a Buy rating on RIG stock.
The Average True Range (ATR) for Transocean Ltd is set at 0.25, with the Price to Sales ratio for RIG stock in the period of the last 12 months amounting to 1.33. 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 1.23.
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 -7.16. With this latest performance, RIG shares dropped by -18.64% in over the last four-week period, additionally sinking by -40.66% over the last 6 months – not to mention a drop of -23.44% 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 33.51, with the RSI for the last a single of trading hit 31.49, and the three-weeks RSI is set at 35.10 for Transocean Ltd [RIG]. The present Moving Average for the last 50 days of trading for this stock 5.63, while it was recorded at 4.78 for the last single week of trading, and 6.82 for the last 200 days.
Transocean Ltd [RIG]: An insightful look at the core fundamentals
Transocean Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.22 and a Current Ratio set at 1.52.
Earnings per share (EPS) analysis for Transocean Ltd [RIG] stock
With the latest financial reports released by the company, Transocean Ltd posted -0.38/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -81.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIG.
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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RIG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RIG stock with ownership which is approximately 5.8325%.
