Transocean FY2024 EPS Boosted by Capital One Financial

Transocean Ltd. (NYSE:RIG) – Research analysts at Capital One Financial lifted their FY2024 earnings estimates for shares of Transocean in a note issued to investors 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 estimate 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.

RIG has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Transocean from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Friday, December 6th. StockNews.com raised shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Benchmark reissued a “hold” rating on shares of Transocean in a report on Tuesday, December 3rd. TD Cowen decreased their price target on shares of Transocean from $6.50 to $5.50 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Susquehanna reduced their target price on shares of Transocean from $7.00 to $6.50 and set a “positive” rating for the company in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Transocean has a consensus rating of “Hold” and an average target price of $5.94.

Transocean Price Performance

RIG opened at $3.54 on Monday. The company has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $4.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.64. Transocean has a 52 week low of $3.40 and a 52 week high of $6.88. The firm has a market capitalization of $3.10 billion, a PE ratio of -4.71, a P/E/G ratio of 0.75 and a beta of 2.70.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RIG. Oppenheimer Asset Management Inc. grew its position in shares of Transocean by 10.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 25,170 shares of the offshore drilling services provider’s stock worth $107,000 after purchasing an additional 2,469 shares in the last quarter. Optiver Holding B.V. grew its position in shares of Transocean by 53.6% during the 4th quarter. Optiver Holding B.V. now owns 8,400 shares of the offshore drilling services provider’s stock worth $32,000 after purchasing an additional 2,933 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Transocean by 19.4% during the 4th quarter. Ballentine Partners LLC now owns 18,247 shares of the offshore drilling services provider’s stock worth $68,000 after purchasing an additional 2,963 shares in the last quarter. Van Den Berg Management I Inc. grew its position in shares of Transocean by 11.9% during the 4th quarter. Van Den Berg Management I Inc. now owns 28,155 shares of the offshore drilling services provider’s stock worth $106,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its position in shares of Transocean by 25.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 15,332 shares of the offshore drilling services provider’s stock worth $57,000 after purchasing an additional 3,127 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Roderick James Mackenzie sold 22,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $4.05, for a total value of $89,100.00. Following the sale, the executive vice president now directly owns 229,596 shares of the company’s stock, valued at approximately $929,863.80. This represents a 8.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.16% of the stock is owned by insiders.

Transocean Company Profile

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.