The stock of Transocean Ltd. (NYSE:RIG) decreased by -$0.22 on Friday to finish at $8.38, down -2.62 percent. The last five days have seen an average of 15,883,999 shares of common stock traded. 28 times new highs were reached in the current year, with a gain of $3.79. The average number of shares traded over the last 20 days was 14,735,359, while the average volume over the last 50 days totaled 16,067,210.
RIG stock appreciated 7.23% since last month. On 08/08/23, the company’s shares reached a one-month low of $7.67. The stock touched a high of $8.86 on 08/11/23, after rallying from a low of $2.33 in 52 weeks. The price of RIG stock has risen by 83.66% or $3.79 this year, reaching a new high 28 times. Still, the stock price is down -5.47% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
RIG stock investors should be aware that Transocean Ltd. (RIG) stock had its last reported insider trading activity 11 days ago on Aug 03. On Aug 03, EVP & CFO Mey Mark-Anthony Lovell sold 396,170 shares at $8.50 each. This transaction resulted in the insider making $3,367,445. On Jul 18, Tonnel David A sold 1,754 shares at a price of US$8.76. After the transaction, the insider now owns 475,048 shares. SVP – CHIEF ACCOUNTING OFFICER Tonnel David A had earlier sold 12,000 shares on Apr 17 for $6.53 a share. The transaction was completed for $78,360.
Valuation Metrics
Beta for the stock is 2.98. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.36, the price-to-book (PB) ratio of 0.61.
Company paid $0.15 per share in dividends, remained unchanged from $0.15 last year.
Financial Health
For the three months ended June 29, Transocean Ltd.’s quick ratio was 1.60, while its current ratio was 2.00, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.69, and the total debt to equity ratio is 0.72. As far as profitability goes, gross margin for the trailing twelve months is 35.40% percent. Transocean Ltd.’s EBITDA margin for the year ended June 29 was 32.27%, whereas its operating margin stood at -8.70% for the same period. Based on annual data, it had gross profit of -$31.0 million and revenue of $2.58 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RIG’s return on assets (ROA) during the last 12 months has been -4.90%. There was a -0.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -9.40%.
Earnings Surprise
According to Transocean Ltd.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $729.0 million, while revenues rose by 5.08% to $649.0 million. It was predicted that Transocean Ltd.’s quarterly earnings would be -$0.15, but it ended up being -$0.14, beating the consensus by -7.10%. EBITDA was $163.0 million for the quarter. At the end of Transocean Ltd.’s most recent quarter ended June 29, its liabilities totaled 9.81 billion, while its total debt was $7.45 billion. Equity owned by shareholders amounts to $766.65 million.
Technical Picture
Here’s a quick look at Transocean Ltd.’s (RIG) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 51.51%, suggesting the stock is Neutral, with a 44.28% historical volatility rate.
The stochastic %K and %D were 67.56% and 65.60% respectively, while the average true range (ATR) was 0.40. Based on the 14-day stochastic reading of 57.56%, the RSI (14) reading is 55.17%. On the 9-day MACD Oscillator, the stock is at 0.07, and the 14-day reading is at 0.04.
Analyst Ratings
In its most recent analyst report, Citigroup raised its rating on Transocean Ltd. (NYSE: RIG) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Transocean Ltd. (RIG) an Overweight rating. RIG is a stock that is recommended for selling by 2 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 7 others recommend it as a buy.
What is RIG’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.00 and $12.00, with a median target price of $8.00. In analyzing these forecasts, the average price target given by analysts for Transocean Ltd. (RIG) is $8.73.
