A new trading data show Transocean Ltd. (RIG) is showing positive returns.

Transocean Ltd. (NYSE: RIG) stock jumped 0.16% on Tuesday to $6.24 against a previous-day closing price of $6.23. With 17.39 million shares changed hands, the volume of the stock remained lighter than its average volume of 22.82 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $6.31 whereas the lowest price it dropped to was $5.50. The 52-week range on RIG shows that it touched its highest point at $6.31 and its lowest point at $2.32 during that stretch. It currently has a 1-year price target of $5.52. Beta for the stock currently stands at 2.86.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RIG was up-trending over the past week, with a rise of 2.80%, but this was up by 35.95% over a month. Three-month performance surged to 73.82% while six-month performance rose 122.86%. The stock gained 100.00% in the past year, while it has gained 36.84% so far this year. A look at the trailing 12-month EPS for RIG yields -0.80 with Next year EPS estimates of -0.09. For the next quarter, that number is -0.21. This implies an EPS growth rate of -0.80% for this year and 84.70% for next year.

Float and Shares Shorts:

At present, 714.00 million RIG shares are outstanding with a float of 669.76 million shares on hand for trading. On Oct 13, 2022, short shares totaled 111.49 million, which was 14.89% higher than short shares on Sep 14, 2022. In addition to Mr. Jeremy D. Thigpen as the firm’s CEO & Exec. Director, Mr. Keelan I. Adamson serves as its Pres & COO.

Institutional Ownership:

Through their ownership of 55.77% of RIG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.99% of RIG, in contrast to 29.84% held by mutual funds. Shares owned by individuals account for 28.23%. As the largest shareholder in RIG with 8.26% of the stake, The Vanguard Group, Inc. holds 59,651,661 shares worth 59,651,661. A second-largest stockholder of RIG, PRIMECAP Management Co., holds 46,953,106 shares, controlling over 6.50% of the firm’s shares. D. E. Shaw & Co. LP is the third largest shareholder in RIG, holding 36,130,816 shares or 5.01% stake. With a 3.85% stake in RIG, the VanEck Oil Services ETF is the largest stakeholder. A total of 27,792,057 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.77% of RIG stock, is the second-largest Mutual Fund holder. It holds 20,013,085 shares valued at 91.26 million. Vanguard Small Cap Index Fund holds 2.32% of the stake in RIG, owning 16,740,942 shares worth 76.34 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RIG since 15 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RIG analysts setting a high price target of $8.00 and a low target of $4.00, the average target price over the next 12 months is $5.67. Based on these targets, RIG could surge 28.21% to reach the target high and fall by -35.9% to reach the target low. Reaching the average price target will result in a decline of -9.13% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RIG will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of -$0.45 being high and -$0.70 being low. For RIG, this leads to a yearly average estimate of -$0.59. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Transocean Ltd. surprised analysts by $0.12 when it reported -$0.06 EPS against a consensus estimate of -$0.18. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.08 and the low estimate is -$0.27. The average estimate for the next quarter is thus -$0.20.

Summary of Insider Activity:

Insiders traded RIG stock several times over the past three months with 2 Buys and 4 Sells. In these transactions, 14,950,000 shares were bought while 93,136 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 21,558,513 while 1,472,254 shares were sold.

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