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Things appear to be looking up for Transocean Ltd (RIG)

Transocean Ltd (NYSE: RIG) is 3.78% higher on its value in year-to-date trading and has touched a low of $4.45 and a high of $8.88 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The RIG stock was last observed hovering at around $6.37 in the last trading session, with the day’s gains setting it 0.22%.

Currently trading at $6.59, the stock is 14.74% and 22.05% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 27.16 million and changing 3.45% at the moment leaves the stock -2.44% off its SMA200. RIG registered 2.17% gain for a year compared to 6-month loss of -19.73%. The firm has a 50-day simple moving average (SMA 50) of $4.41 and a 200-day simple moving average (SMA200) of $24.93.

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The stock witnessed a 29.47% gain in the last 1 month and extending the period to 3 months gives it a 3.78%, and is 5.95% 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 3.56% over the week and 4.02% over the month.

Transocean Ltd (RIG) has around 5800 employees, a market worth around $5.33B and $2.83B in sales. Fwd P/E is 14.75. Profit margin for the company is -33.69%. Distance from 52-week low is 48.09% and -25.79% from its 52-week high. The company has generated returns on investments over the last 12 months (-5.35%).

Transocean Ltd quarterly earnings per share for the current quarter are estimated at -$0.15 with sales reaching $795.89M over the same period.The EPS is expected to grow by 98.34% this year, but quarterly earnings will post 28.40% year-over-year. Quarterly sales are estimated to grow 22.60% in year-over-year returns.

Transocean Ltd (RIG) Top Institutional Holders

547 institutions hold shares in Transocean Ltd (RIG), with institutional investors hold 77.05% of the company’s shares. The shares outstanding are 809.03M, and float is at 713.52M with Short Float at 18.17%. Institutions hold 68.08% 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

The most recent transaction is an insider purchase by Mohn Frederik Wilhelm,the company’sDirector. SEC filings show that Mohn Frederik Wilhelm bought 1,000,000 shares of the company’s common stock on Feb 27 ’24 at a price of $4.89 per share for a total of $4.89 million. Following the purchase, the insider now owns 85.57 million shares.

Transocean Ltd disclosed in a document filed with the SEC on Feb 27 ’24 that Perestroika (Cyprus) Ltd (Director) bought a total of 1,000,000 shares of the company’s common stock. The trade occurred on Feb 27 ’24 and was made at $4.89 per share for $4.89 million. Following the transaction, the insider now directly holds 85.57 million shares of the RIG stock.

Still, SEC filings show that on Aug 31 ’23, Tonnel David A (SVP – CHIEF ACCOUNTING OFFICER) disposed off 57,259 shares at an average price of $8.22 for $0.47 million. The insider now directly holds 417,789 shares of Transocean Ltd (RIG).

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