Transocean Ltd. (NYSE: RIG)’s stock price has soared by 1.38 in relation to previous closing price of 8.66. Nevertheless, the company has seen a gain of 7.33% in its stock price over the last five trading days. Zacks Investment Research reported 2023-09-15 that Transocean (RIG) enters into a three-year, $486 million contract with a national oil company for its Deepwater Aquila drillship. It also plans to acquire the outstanding interests in Liquila Ventures Ltd.
Is It Worth Investing in Transocean Ltd. (NYSE: RIG) Right Now?
compared to its average ratio and a 36-month beta value of 2.99. Analysts have mixed views on the stock, with 8 analysts rating it as a “buy,” 0 as “overweight,” 5 as “hold,” and 2 as “sell.”
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The average price point forecasted by analysts for Transocean Ltd. (RIG) is $8.89, which is -$0.09 below the current market price. The public float for RIG is 711.28M, and currently, short sellers hold a 19.37% ratio of that float. The average trading volume of RIG on September 15, 2023 was 15.06M shares.
RIG’s Market Performance
RIG stock saw an increase of 7.33% in the past week, with a monthly gain of 7.73% and a quarterly increase of 41.16%. The volatility ratio for the week is 4.53%, and the volatility levels for the last 30 days are 4.32% for Transocean Ltd. (RIG). The simple moving average for the past 20 days is 8.23% for RIG’s stock, with a 34.40% simple moving average for the past 200 days.
Analysts’ Opinion of RIG
Many brokerage firms have already submitted their reports for RIG stocks, with Citigroup repeating the rating for RIG by listing it as a “Buy.” The predicted price for RIG in the upcoming period, according to Citigroup is $9.50 based on the research report published on July 05, 2023 of the current year 2023.
RIG Trading at 7.16% from the 50-Day Moving Average
After a stumble in the market that brought RIG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.90% of loss for the given period.
Volatility was left at 4.32%, however, over the last 30 days, the volatility rate increased by 4.53%, as shares surge +9.45% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.69% upper at present.
During the last 5 trading sessions, RIG rose by +7.71%, which changed the moving average for the period of 200-days by +127.07% in comparison to the 20-day moving average, which settled at $8.15. In addition, Transocean Ltd. saw 92.54% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RIG starting from Tonnel David A, who sale 57,259 shares at the price of $8.22 back on Aug 31. After this action, Tonnel David A now owns 417,789 shares of Transocean Ltd., valued at $470,669 using the latest closing price.
Mey Mark-Anthony Lovell, the EVP & CFO of Transocean Ltd., sale 396,170 shares at $8.50 during a trade that took place back on Aug 03, which means that Mey Mark-Anthony Lovell is holding 984,317 shares at $3,367,445 based on the most recent closing price.
Stock Fundamentals for RIG
Current profitability levels for the company are sitting at:
- -0.82 for the present operating margin
- +6.25 for the gross margin
The net margin for Transocean Ltd. stands at -24.12. The total capital return value is set at -0.11, while invested capital returns managed to touch -3.43. Equity return is now at value -9.40, with -4.90 for asset returns.
Based on Transocean Ltd. (RIG), the company’s capital structure generated 72.44 points at debt to equity in total, while total debt to capital is 42.01. Total debt to assets is 38.25, with long-term debt to equity ratio resting at 65.34. Finally, the long-term debt to capital ratio is 37.89.
When we switch over and look at the enterprise to sales, we see a ratio of 5.03, with the company’s debt to enterprise value settled at 0.78. The receivables turnover for the company is 5.27 and the total asset turnover is 0.13. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.29.
Conclusion
To put it simply, Transocean Ltd. (RIG) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
