Q2 Earnings Forecast for Transocean Issued By Zacks Research

Transocean Ltd. (NYSE:RIG) – Zacks Research cut their Q2 2026 EPS estimates for Transocean in a research report issued on Friday, May 22nd. Zacks Research analyst Team now anticipates 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 $0.19 per share. Zacks Research also issued estimates for Transocean’s Q3 2026 earnings at $0.03 EPS and Q3 2027 earnings at $0.05 EPS.

Transocean (NYSE:RIG) last posted its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.02 billion. Transocean had a negative net margin of 66.79% and a positive return on equity of 0.88%. Transocean’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS.

Several other research firms have also weighed in on RIG. BTIG Research increased their price target on shares of Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Pareto Securities lowered shares of Transocean from a “hold” rating to a “sell” rating and set a $5.25 target price for the company. in a research report on Tuesday, February 10th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $6.00 to $8.00 in a research report on Thursday, May 7th. Fearnley Fonds lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Transocean currently has an average rating of “Hold” and a consensus price target of $6.96.

Transocean Price Performance

RIG opened at $6.81 on Monday. The firm has a market cap of $7.60 billion, a P/E ratio of -2.28 and a beta of 1.34. The firm has a 50-day moving average of $6.54 and a 200 day moving average of $5.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. Transocean has a fifty-two week low of $2.34 and a fifty-two week high of $7.66.

Institutional Investors Weigh In On Transocean

Institutional investors and hedge funds have recently modified their holdings of the company. Monashee Investment Management LLC purchased a new stake in Transocean in the third quarter valued at approximately $936,000. Citigroup Inc. raised its stake in Transocean by 37.5% in the third quarter. Citigroup Inc. now owns 818,781 shares of the offshore drilling services provider’s stock valued at $2,555,000 after purchasing an additional 223,231 shares in the last quarter. HighTower Advisors LLC raised its stake in Transocean by 2,662.3% in the third quarter. HighTower Advisors LLC now owns 1,562,314 shares of the offshore drilling services provider’s stock valued at $4,874,000 after purchasing an additional 1,505,755 shares in the last quarter. Ninepoint Partners LP purchased a new stake in Transocean in the third quarter valued at approximately $18,720,000. Finally, Cibc World Market Inc. raised its stake in Transocean by 23.9% in the third quarter. Cibc World Market Inc. now owns 4,882,994 shares of the offshore drilling services provider’s stock valued at $15,235,000 after purchasing an additional 941,537 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Roderick James Mackenzie sold 78,370 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $6.36, for a total value of $498,433.20. Following the sale, the executive vice president directly owned 268,025 shares of the company’s stock, valued at approximately $1,704,639. This represents a 22.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.70% of the company’s stock.

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.