Why should you keep an eye on Transocean Ltd (RIG)?

Transocean Ltd (NYSE: RIG) is -18.90% lower on its value in year-to-date trading and has touched a low of $4.90 and a high of $8.88 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RIG stock was last observed hovering at around $5.23 in the last trading session, with the day’s loss setting it -0.08%.

Currently trading at $5.15, the stock is -5.00% and -12.07% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 17.33 million and changing -1.53% at the moment leaves the stock -24.97% off its SMA200. RIG registered -31.52% loss for a year compared to 6-month loss of -38.98%. The firm has a 50-day simple moving average (SMA 50) of $4.06 and a 200-day simple moving average (SMA200) of $19.96.

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The stock witnessed a -9.65% gain in the last 1 month and extending the period to 3 months gives it a -22.79%, and is 0.19% 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 4.35% over the week and 4.85% over the month.

Transocean Ltd (RIG) has around Aug 21 2015 employees, a market worth around $4.17B and $2.70B in sales. Fwd P/E is 34.64. Profit margin for the company is -44.49%. Distance from 52-week low is 5.10% and -42.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.90%).

Transocean Ltd quarterly earnings per share for the current quarter are estimated at -$0.24 with sales reaching $760.58M over the same period.The EPS is expected to shrink by -4.42% this year, but quarterly earnings will post 12.70% year-over-year. Quarterly sales are estimated to grow 25.50% in year-over-year returns.

Transocean Ltd (RIG) Top Institutional Holders

532 institutions hold shares in Transocean Ltd (RIG), with institutional investors hold 74.24% of the company’s shares. The shares outstanding are 721.89M, and float is at 714.37M with Short Float at 18.18%. Institutions hold 69.19% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 65.08 million shares valued at $456.23 million. The investor’s holdings represent 8.49% of the RIG Shares outstanding. As of Jun 29, 2023, the second largest holder is Primecap Management Company with 45.47 million shares valued at $318.71 million to account for 5.93% of the shares outstanding. The other top investors are Capital World Investors which holds 27.6 million shares representing 3.60% and valued at over $193.45 million, while Slate Path Capital, LP holds 3.04% of the shares totaling 23.31 million with a market value of $163.43 million.

Transocean Ltd (RIG) Insider Activity

A total of 4 insider transactions have happened at Transocean Ltd (RIG) in the last six months, with sales accounting for 1 and purchases happening 3 times. The most recent transaction is an insider sale by Tonnel David A ,the company’sSVP – CHIEF ACCOUNTING OFFICER. SEC filings show that Tonnel David A sold 57,259 shares of the company’s common stock on Aug 31 at a price of $8.22 per share for a total of $0.47 million. Following the sale, the insider now owns 0.42 million shares.

Transocean Ltd disclosed in a document filed with the SEC on Aug 03 that Mey Mark-Anthony Lovell (EVP & CFO) sold a total of 396,170 shares of the company’s common stock. The trade occurred on Aug 03 and was made at $8.50 per share for $3.37 million. Following the transaction, the insider now directly holds 0.98 million shares of the RIG stock.

Still, SEC filings show that on Jul 18, Tonnel David A (SVP – CHIEF ACCOUNTING OFFICER) disposed off 1,754 shares at an average price of $8.76 for $15365.0. The insider now directly holds 475,048 shares of Transocean Ltd (RIG).

Transocean Ltd (RIG): Who are the competitors?

The company’s main competitors (and peers) include Nabors Industries Ltd. (NBR) that is trading -54.47% down over the past 12 months. Patterson-UTI Energy Inc. (PTEN) that is -30.49% lower over the same period.