Q2 Earnings Forecast for Transocean Issued By Zacks Research

Transocean Ltd. (NYSE:RIG) – Zacks Research decreased their Q2 2027 EPS estimates for shares of Transocean in a research note issued to investors on Thursday, February 5th. Zacks Research analyst Team now forecasts that the offshore drilling services provider will earn $0.02 per share for the quarter, down from their previous estimate of $0.03. The consensus estimate for Transocean’s current full-year earnings is $0.14 per share.

Several other brokerages have also issued reports on RIG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a report on Thursday, January 22nd. BTIG Research raised their price target on Transocean from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Barclays boosted their price target on Transocean from $4.00 to $4.50 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Susquehanna raised their price objective on shares of Transocean from $4.50 to $5.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Transocean in a research report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.55.

Transocean Trading Up 8.9%

Shares of NYSE:RIG opened at $5.38 on Monday. The firm has a fifty day moving average of $4.40 and a two-hundred day moving average of $3.75. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60. Transocean has a 12-month low of $1.97 and a 12-month high of $5.40. The firm has a market capitalization of $5.93 billion, a P/E ratio of -1.64 and a beta of 1.45.

Hedge Funds Weigh In On Transocean

A number of institutional investors have recently made changes to their positions in RIG. TD Waterhouse Canada Inc. grew its holdings in Transocean by 22,432.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,309 shares of the offshore drilling services provider’s stock valued at $26,000 after buying an additional 6,281 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Transocean during the fourth quarter worth approximately $27,000. Benedict Financial Advisors Inc. bought a new stake in shares of Transocean in the third quarter valued at approximately $31,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Transocean in the third quarter worth $31,000. Finally, Forteris Wealth Management Inc. bought a new position in Transocean during the fourth quarter worth $41,000. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Transocean

In other news, EVP Roderick James Mackenzie sold 35,000 shares of Transocean stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $4.48, for a total value of $156,800.00. Following the transaction, the executive vice president owned 212,072 shares of the company’s stock, valued at $950,082.56. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Perestroika acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average cost of $4.02 per share, with a total value of $6,030,000.00. Following the completion of the acquisition, the director owned 96,574,894 shares in the company, valued at $388,231,073.88. This trade represents a 1.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 712,970 shares of company stock valued at $3,152,132. 12.54% of the stock is owned by company insiders.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.