Transocean Ltd. (NYSE:RIG) does about 22.81M shares in volume on a normal day but saw 30222379 shares change hands in Monday trading. The company now has a market cap of 4.27B USD. Its current market price is $6.23, marking an increase of 3.66% compared to the previous close of $6.01. The 52 week high reached by this stock is $6.18 whilst the lowest price level in 52 weeks is $2.32. The script in recent trading has seen the stock touch a high of $6.31 and a low of $6.03.
Transocean Ltd. (RIG) has a 20-day trading average at $5.13 and the current price is 0.81% off the 52-week high compared with 168.53% distance from its 52-week low. The 50-day simple moving average of the closing price is $4.52 and its 200-day simple moving average is $3.80. If we look at the stock’s price movements over the week, volatility stands at 6.58%, which decreases to 6.02% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 74.15 to suggest the stock is overbought.
15 analysts observing the Transocean Ltd. (RIG) stock have set the 12-month price targets for the company’s shares at between $4.00 and $8.00. The consensus objective for the share price is $5.52, suggesting that the stock has a potential downside of -12.86% over the period. The median price target is -13.27% away from the current levels at $5.50.
FactSet Research has provided data showing that 15 brokerages have issued ratings for the stock. 2 analysts have rated it as a sell, while 1 advise that it is a overweight. 6 analysts have rated it as a buy and 5 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 19, 2023 when The Benchmark Company initiated the stock to “Buy” and issued a price target of $7.50. Barclays upgraded the stock to “Overweight” from Underweight on October 06, 2022 at a price target of $3.50-$5. BTIG Research upgraded its price target at $8.
The current price level is 23.49%, 38.97%, and 64.32% away from its SMA20, SMA50, and SMA200 respectively, with the RIG price moving below the 50-day SMA on January 23. Transocean Ltd. (RIG) stock is up 10.07% over the week and 40.00% over the past month. Its price is 36.62% year-to-date and 85.42% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.06 above consensus estimates by $0.11. The company’s next earnings report is expected on 05/01/2023, with forecasts estimating quarterly EPS at -$0.21 and -$0.59 for whole year. RIG’s earnings per share are forecast to grow by 20.30% this year and 84.70% over next year. Expected sales for next quarter are $674.5 million, which analysts say will come at $2.63 billion for the current fiscal year and next year at $3.13 billion. In addition, estimates put the company’s current quarterly revenue at an average of $617.61 million.
Its 12-month price target is $5.50. To reach the target analysts have set, the stock logically needs to shrink -12.86 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $4.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $8.00.
Outstanding shares total 714.00M with insiders holding 7.22% of the shares and institutional holders owning 58.44% of the company’s common stock. The company has a return on investment of -1.00% and return on equity of -4.70%. The beta has a value of 2.86. Price to book ratio is 0.40 and price to sales ratio is 1.65.
According to a U.S. Securities and Exchange Commission filing, VanEck Oil Services ETF has added its position in Transocean Ltd. (RIG) to 27,792,057 shares, mirroring a recent increase by 15.34%. VanEck Oil Services ETF added 3.7 million shares of Transocean Ltd. common stock bringing its total worth to about $126.73 million at the end of recent close, SEC documents show. VanEck Oil Services ETF isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which added 0.88 million shares to end up with 20,013,085 shares worth $91.26 million. Vanguard Small Cap Index Fund raise their holdings by 2.12% in the company over the course of the most recent quarter. It now holds a 2.32% position in Transocean Ltd. thanks to 16.74 million shares amounting to $76.34 million.