Transocean Ltd. (NYSE:RIG) Stock Has Average Price Target of $6.68 According to Analysts

Transocean Ltd. (NYSE:RIG) has been given an average rating of “Hold” by the twelve analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.68.

A number of research analysts have commented on RIG shares. Barclays reduced their price objective on Transocean from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research note on Thursday. Susquehanna lowered their target price on Transocean from $8.00 to $7.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Zacks Research upgraded Transocean from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Fearnley Fonds raised Transocean from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th.

Institutional Trading of Transocean

A number of hedge funds have recently made changes to their positions in RIG. Elliott Investment Management L.P. acquired a new position in shares of Transocean during the first quarter worth $103,606,000. Assenagon Asset Management S.A. purchased a new position in shares of Transocean in the second quarter valued at $37,477,000. Ninepoint Partners LP acquired a new stake in Transocean during the 2nd quarter valued at $34,230,000. Dimensional Fund Advisors LP grew its holdings in Transocean by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock valued at $323,682,000 after purchasing an additional 5,349,264 shares in the last quarter. Finally, Empyrean Capital Partners LP purchased a new stake in Transocean during the 1st quarter worth $30,302,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

More Transocean News

Here are the key news stories impacting Transocean this week:

• Positive Sentiment: Transocean secured approximately $550 million in firm contract backlog for two ultra-deepwater drillships operating in the U.S. Gulf. The Deepwater Proteus received a 10-well, roughly 700-day contract worth about $325 million, beginning in the first quarter of 2027. The Deepwater Conqueror received a five-well, approximately 450-day contract worth about $225 million, excluding mobilization fees, beginning in the third quarter of 2027. Transocean Ltd. Announces Contract Awards Totaling $550 Million
• Positive Sentiment: The contracts are expected to follow the rigs’ existing work programs, supporting operational continuity and reducing near-term idle-time risk. The awards also add to Transocean’s recent backlog momentum, which investors may view as strengthening future cash-flow visibility. Transocean Gains as New $550 Million Drillship Awards Add to Backlog
• Positive Sentiment: Options activity was unusually bullish: investors purchased 42,051 call options, about 130% above typical daily call volume. This may have amplified the upward move, though options positioning can also reflect short-term speculation.
• Neutral Sentiment: Analyst price targets cited in recent coverage have a median of $7, with targets ranging from $6 to $8, suggesting potential upside relative to the stock’s recent trading level but not guaranteeing further gains.
• Negative Sentiment: The contract operators were not disclosed, and the expected revenue depends on future execution beginning in 2027. Delays, operating hazards, changes in oil prices, or weaker offshore exploration spending could prevent the backlog from translating into expected results. Transocean Announces $550 Million in U.S. Gulf Contract Awards

Transocean Stock Performance

NYSE:RIG opened at $5.91 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.27 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of -3.14, a PEG ratio of 4.16 and a beta of 1.41. The firm’s fifty day simple moving average is $5.65 and its 200 day simple moving average is $5.81. Transocean has a twelve month low of $3.22 and a twelve month high of $7.66.

Transocean (NYSE:RIG) last announced its quarterly earnings results on Wednesday, August 5th. The offshore drilling services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Transocean had a negative net margin of 40.24% and a positive return on equity of 2.60%. The firm had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $956.64 million. During the same period in the prior year, the company earned ($1.06) EPS. The firm’s revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that Transocean will post 0.18 earnings per share for the current fiscal year.

Transocean Company Profile

Transocean Ltd. is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company specializes in ultra-deepwater and harsh-environment drilling, helping customers explore for and develop offshore energy resources.

Transocean owns and operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs. Its services generally include contract drilling, rig operations, well-construction support, and related offshore drilling management.

With roots tracing back to the 1920s, Transocean serves customers in major offshore energy regions around the world.