FY2024 EPS Estimates for Transocean Increased by Analyst

Transocean Ltd. (NYSE:RIG) – Equities researchers at Zacks Research boosted their FY2024 EPS estimates for shares of Transocean in a report issued on Wednesday, November 20th. Zacks Research analyst N. Choudhury now expects that the offshore drilling services provider will earn ($0.17) per share for the year, up from their prior estimate of ($0.20). The consensus estimate for Transocean’s current full-year earnings is ($0.16) per share. Zacks Research also issued estimates for Transocean’s FY2026 earnings at $0.22 EPS.

RIG has been the topic of a number of other reports. StockNews.com raised Transocean to a “sell” rating in a report on Tuesday, November 12th. Susquehanna decreased their price objective on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. DNB Markets upgraded shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley upped their price target on shares of Transocean from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Finally, Barclays reduced their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.63.

Transocean Price Performance

Shares of RIG opened at $4.47 on Monday. The firm has a market capitalization of $3.91 billion, a PE ratio of -5.96 and a beta of 2.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The company’s fifty day moving average price is $4.34 and its 200-day moving average price is $4.94. Transocean has a 1-year low of $3.85 and a 1-year high of $6.88.

Insider Buying and Selling

In related news, Director Perestroika purchased 1,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $4.13 per share, with a total value of $6,195,000.00. Following the purchase, the director now owns 91,074,894 shares of the company’s stock, valued at $376,139,312.22. This represents a 1.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roderick James Mackenzie sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the sale, the executive vice president now owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.16% of the stock is currently owned by insiders.

Institutional Trading of Transocean

A number of institutional investors have recently made changes to their positions in RIG. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after purchasing an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Transocean during the second quarter worth $30,000. Orion Portfolio Solutions LLC purchased a new stake in Transocean in the 3rd quarter valued at $46,000. SG Americas Securities LLC acquired a new stake in shares of Transocean in the 2nd quarter worth $64,000. Finally, Atria Investments Inc purchased a new position in shares of Transocean during the 3rd quarter worth $51,000. 67.73% of the stock is owned by institutional investors and hedge funds.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.