Transocean FY2024 EPS Boosted by Capital One Financial

Transocean Ltd. (NYSE:RIG) – Research analysts at Capital One Financial lifted their FY2024 earnings estimates for Transocean in a research report issued on Thursday, February 13th. Capital One Financial analyst D. Becker now forecasts that the offshore drilling services provider will post earnings of ($0.09) per share for the year, up from their prior forecast of ($0.16). The consensus estimate for Transocean’s current full-year earnings is ($0.11) per share. Capital One Financial also issued estimates for Transocean’s Q4 2024 earnings at $0.00 EPS, Q1 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.05 EPS and FY2025 earnings at $0.02 EPS.

Other research analysts also recently issued reports about the stock. TD Cowen decreased their target price on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Barclays upgraded shares of Transocean from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Transocean to a “sell” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Friday, December 6th. Finally, Susquehanna decreased their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.94.

Transocean Price Performance

Shares of RIG opened at $3.55 on Monday. The firm has a market capitalization of $3.10 billion, a PE ratio of -4.73, a price-to-earnings-growth ratio of 0.75 and a beta of 2.70. The company’s fifty day moving average price is $3.82 and its 200-day moving average price is $4.23. Transocean has a 1-year low of $3.38 and a 1-year high of $6.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34.

Insiders Place Their Bets

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $84,700.00. Following the completion of the sale, the executive vice president now owns 313,072 shares of the company’s stock, valued at $1,205,327.20. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.16% of the company’s stock.

Institutional Trading of Transocean

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Transocean by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 78,811,863 shares of the offshore drilling services provider’s stock worth $295,544,000 after purchasing an additional 931,684 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Transocean by 0.4% during the third quarter. Primecap Management Co. CA now owns 56,342,169 shares of the offshore drilling services provider’s stock worth $239,454,000 after purchasing an additional 222,680 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Transocean by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 40,008,596 shares of the offshore drilling services provider’s stock valued at $150,029,000 after acquiring an additional 809,864 shares in the last quarter. State Street Corp grew its stake in Transocean by 11.0% during the 3rd quarter. State Street Corp now owns 19,594,121 shares of the offshore drilling services provider’s stock valued at $83,275,000 after acquiring an additional 1,944,723 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Transocean by 51.5% during the 4th quarter. American Century Companies Inc. now owns 19,257,437 shares of the offshore drilling services provider’s stock valued at $72,215,000 after acquiring an additional 6,542,271 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.