Why Transocean Ltd. (RIG) Stock Could See Much Higher Prices Ahead

Transocean Ltd. (NYSE: RIG) is 15.58% higher on its value in year-to-date trading and has touched a low of $0.65 and a high of $7.17 in the current 52-week trading range. The RIG stock was last observed hovering at around $2.67 in the last trading session, with the day’s gains setting it 0.05% off its average median price target of $1.25 for the next 12 months. It is also 2.86% off the consensus price target high of $2.80 offered by 18 analysts, but current levels are -2620.0% lower than the price target low of $0.10 for the same period.

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Currently trading at $2.72, the stock is 14.24% and 54.81% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 11.04 million and changing 1.87% at the moment leaves the stock 74.49% off its SMA200. RIG registered -61.25% loss for a year compared to 6-month gain of 32.18%. The firm has a 50-day simple moving average (SMA 50) of $2.1803 and a 200-day simple moving average (SMA200) of $1.5928.

The stock witnessed a 23.04% loss in the last 1 month and extending the period to 3 months gives it a 238.83%, and is 22.48% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.55% over the week and 9.58% over the month.

Transocean Ltd. (RIG) has around 6600 employees, a market worth around $1.62B and $3.25B in sales. Profit margin for the company is -17.90%. Distance from 52-week low is 318.46% and -62.06% from its 52-week high. The company has generated returns on investments over the last 12 months (-3.80%).

Transocean Ltd. (RIG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Transocean Ltd. (RIG) is a “Underweight”. 18 analysts offering their recommendations for the stock have an average rating of 3.60, where 10 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 6 analysts have rated the stock as a Sell or Underperform.

Transocean Ltd. is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at -$0.19 with sales reaching $696.74M over the same period.The EPS is expected to grow by 49.70% this year, but quarterly earnings will post 1.30% year-over-year. Quarterly sales are estimated to shrink -12.00% in year-over-year returns.

Transocean Ltd. (RIG) Top Institutional Holders

373 institutions hold shares in Transocean Ltd. (RIG), with 35.36M shares held by insiders accounting for 5.75% while institutional investors hold 51.86% of the company’s shares. The shares outstanding are 616.00M, and float is at 579.75M with Short Float at 20.25%. Institutions hold 48.88% of the Float.

The top institutional shareholder in the company is Primecap Management Company with over 49.07 million shares valued at $39.6 million. The investor’s holdings represent 7.98% of the RIG Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 44.56 million shares valued at $35.95 million to account for 7.24% of the shares outstanding. The other top investors are Blackrock Inc. which holds 39.88 million shares representing 6.48% and valued at over $32.18 million, while State Street Corporation holds 2.72% of the shares totaling 16.75 million with a market value of $13.51 million.

Transocean Ltd. (RIG) Insider Activity

A total of 0 insider transactions have happened at Transocean Ltd. (RIG) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider purchase by CHANG VANESSA C L, the company’s Director. SEC filings show that CHANG VANESSA C L bought 5,000 shares of the company’s common stock on Mar 11 at a price of $1.45 per share for a total of $7250.0. Following the purchase, the insider now owns 36900.0 shares.

Transocean Ltd. disclosed in a document filed with the SEC on Mar 09 that MULLER EDWARD R (Director) bought a total of 6,000 shares of the company’s common stock. The trade occurred on Mar 09 and was made at $1.71 per share for $10289.0. Following the transaction, the insider now directly holds 12647.0 shares of the RIG stock.

Still, SEC filings show that on Mar 06, CHANG VANESSA C L (Director) acquired 5,000 shares at an average price of $2.83 for $14150.0. The insider now directly holds 31,900 shares of Transocean Ltd. (RIG).

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Transocean Ltd. (RIG): Who are the competitors?

The company’s main competitors (and peers) include Nabors Industries Ltd. (NBR) that is trading -57.14% down over the past 12 months. Short interest in the company’s stock has fallen -5.56% from the last report on Nov 12, 2020 to stand at a total of 123.93 million short shares sold with a short interest ratio of 2.2.

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