Zacks Research Estimates Transocean’s Q4 Earnings (NYSE:RIG)

Transocean Ltd. (NYSE:RIG) – Zacks Research lowered their Q4 2024 earnings estimates for shares of Transocean in a note issued to investors on Wednesday, November 20th. Zacks Research analyst N. Choudhury now anticipates that the offshore drilling services provider will post earnings per share of $0.01 for the quarter, down from their previous estimate of $0.02. The consensus estimate for Transocean’s current full-year earnings is ($0.16) per share. Zacks Research also issued estimates for Transocean’s Q2 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.06 EPS, Q4 2025 earnings at $0.04 EPS, FY2025 earnings at $0.16 EPS, Q1 2026 earnings at $0.07 EPS, Q2 2026 earnings at $0.03 EPS and Q3 2026 earnings at $0.06 EPS.

RIG has been the topic of a number of other reports. StockNews.com upgraded shares of Transocean to a “sell” rating in a report on Tuesday, November 12th. Susquehanna lowered their price target on shares of Transocean from $7.00 to $6.50 and set a “positive” rating on the stock in a research note on Friday, November 1st. Morgan Stanley boosted their price target on shares of Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Barclays dropped their price objective on Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Benchmark downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.63.

Transocean Stock Performance

RIG opened at $4.47 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.64 and a quick ratio of 1.34. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -5.96 and a beta of 2.78. Transocean has a 1 year low of $3.85 and a 1 year high of $6.88. The business’s 50-day moving average price is $4.34 and its two-hundred day moving average price is $4.95.

Hedge Funds Weigh In On Transocean

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Transocean by 138.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock valued at $25,000 after purchasing an additional 2,693 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in Transocean in the second quarter valued at about $30,000. Orion Portfolio Solutions LLC bought a new position in Transocean in the third quarter valued at about $46,000. Atria Investments Inc acquired a new position in Transocean during the third quarter worth about $51,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Transocean by 34.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,877 shares of the offshore drilling services provider’s stock worth $62,000 after acquiring an additional 4,027 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Transocean

In related news, Director Perestroika bought 1,500,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $4.13 per share, for a total transaction of $6,195,000.00. Following the transaction, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. The trade was a 1.67 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the sale, the executive vice president now directly owns 310,857 shares in the company, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.16% of the stock is currently owned by corporate insiders.

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.