As of Wednesday close, Transocean Ltd.’s (NYSE:RIG) stock was up $0.03, moving up 0.37 percent to $8.10. The average number of shares traded per day over the past five days has been 18,602,859 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.17 fall in that time frame. In the last twenty days, the average volume was 15,362,810, while in the previous 50 days, it was 14,650,302.
Since last month, RIG stock retreated 0.00%. Shares of the company fell to $7.55 on 08/23/23, the lowest level in the past month. A 52-week high of $8.88 was reached on 09/15/23 after having rallying from a 52-week low of $2.33. Since the beginning of this year, RIG’s stock price has risen by 77.63% or $3.54, and marked a new high 29 times. However, the stock has declined by -8.78% since its 52-week high.
RIG stock investors should be aware that Transocean Ltd. (RIG) stock had its last reported insider trading activity 21 days ago on Aug 31. Tonnel David A, the SVP – CHIEF ACCOUNTING OFFICER of the company, disposed of 57,259 shares for $8.22 on Aug 31. It resulted in a $470,669 divestment by the insider. Mey Mark-Anthony Lovell sold 396,170 shares at an average price of $8.50 on Aug 03. The insider now owns 984,317 shares following the transaction. On Jul 18, SVP – CHIEF ACCOUNTING OFFICER Tonnel David A sold 1,754 shares at $8.76 apiece. The transaction was valued at $15,365.
Valuation Metrics
The stock’s beta is 2.99. Besides these, the trailing price-to-sales (P/S) ratio of 2.42, the price-to-book (PB) ratio of 0.59.
The latest dividend of $0.15 per share was paid out, remained unchanged from last year’s $0.15.
Financial Health
In the three months ended June 29, Transocean Ltd.’s quick ratio stood at 1.60, while its current ratio was 2.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.69, and the total debt-to-equity ratio was 0.72. On the profitability front, the trailing twelve-month gross margin is 35.40% percent. In the year ended June 29, EBITDA margin amounted to 32.27%, whereas operating margins totaled -8.70%. Based on annual data, RIG earned -$31.0 million in gross profit and brought in $2.58 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -0.40%. Return on equity (ROE) for the past 12 months was -9.40%.
In Transocean Ltd.’s quarter-end financial report for June 29, it reported total debt of $7.15 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. RIG’s revenue rose 5.08% to $649.0 million during the quarter, while net income inched up to $729.0 million. While analysts expected Transocean Ltd. to report -$0.14 quarterly earnings, the actual figure was -$0.15 per share, beating the consensus estimate by -7.10%. During the quarter, the company generated $163.0 million in EBITDA. The liabilities of Transocean Ltd. were 9.81 billion at the end of its most recent quarter ended June 29, and its total debt was $7.45 billion. The value of shareholders’ equity is $766.65 million.
Technical Picture
This quick technical analysis looks at Transocean Ltd.’s (RIG) price momentum. With a historical volatility rate of 58.11%, the RSI 9-day stood at 46.22% on 20 September.
With respect to its five-day moving average, the current Transocean Ltd. price is down by -2.06% percent or -$0.17. At present, RIG shares trade +3.58% above its 20-day simple moving average and +39.90% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.46% below its SMA50 and +99.02% above its SMA200.
Stochastic coefficient K was 26.77% and Stochastic coefficient D was 44.93%, while ATR was 0.41. Given the Stochastic reading of 12.36% for the 14-day period, the RSI (14) reading has been calculated as 48.48%. As of today, the MACD Oscillator reading stands at -0.14, while the 14-day reading stands at -0.11.
Analyst Ratings
Citigroup upgraded its rating on Transocean Ltd. (NYSE: RIG) to a Buy in a note to investors on July 05, 2023. The analysts firm previously had a Neutral rating on the stock.Transocean Ltd. (RIG) has been rated Overweight by analysts. According to 2 brokerage firms, RIG is a sell, and 5 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Transocean Ltd. stock as buy, with 8 recommending it as overweight.
With a median target price of $8.50, the current consensus forecast for the stock is $6.00 – $12.00. Based on these forecasts, analysts predict Transocean Ltd. (RIG) will achieve an average price target of $8.89.
