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Transocean Ltd. (NYSE: RIG) Gains 25.00% YTD: What’s Next?

Transocean Ltd. (NYSE:RIG)’s traded shares stood at 9.64 million during the latest session, with the company’s beta value hitting 2.94. At the last check today, the stock’s price was $5.70, to imply a decrease of -2.06% or -$0.12 in intraday trading. The RIG share’s 52-week high remains $7.74, putting it -35.79% down since that peak but still an impressive 59.3% since price per share fell to its 52-week low of $2.32. The company has a valuation of $4.21B, with an average of 26.15 million shares in intraday trading volume over the past 10 days and average of 23.72 million shares over the past 3 months.

Transocean Ltd. (NYSE:RIG) trade information

After registering a -2.06% downside in the latest session, Transocean Ltd. (RIG) has traded red over the past five days. The stock hit a weekly high of 7.07 this Wednesday, 03/15/23, dropping -2.06% in its intraday price action. The 5-day price performance for the stock is -14.41%, and -24.30% over 30 days. With these gigs, the year-to-date price performance is 25.00%. Short interest in Transocean Ltd. (NYSE:RIG) saw shorts transact 125.46 million shares and set a 5.93 days time to cover.

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Analysts on Wall Street suggest a consensus price target of $7.13, implying an increase of 20.06% to the stock’s recent value. The extremes give us $4.00 and $12.00 for target low and target high price respectively. As such, RIG has been trading -110.53% off suggested target high and 29.82% from its likely low.

Transocean Ltd. (RIG) estimates and forecasts

Looking at statistics comparing Transocean Ltd. share performance against respective industry, we note that the company has underperformed competitors. Transocean Ltd. (RIG) shares are 67.16% up over the last 6 months, with its year-to-date growth rate lower than industry average at 65.59% against 66.10%. Revenue is forecast to shrink -10.50% this quarter before jumping 46.40% for the next one. The rating firms project that company’s revenue will grow 2.90% compared to the previous financial year.

Revenue forecast for the current quarter as set by 8 analysts is $619.4 million. Meanwhile, for the quarter ending Mar 2023, a total of 5 analyst(s) estimate revenue growth to $682.4 million.Earnings reports from the last fiscal year show that sales brought in $621 million and $586 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -0.30% before jumping 16.50% in the following quarter.

RIG Dividends

Transocean Ltd. has its next earnings report out on February 22. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Transocean Ltd. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Transocean Ltd. (NYSE:RIG)’s Major holders

Transocean Ltd. insiders hold 7.22% of total outstanding shares, with institutional holders owning 60.25% of the shares at 64.94% float percentage. In total, 60.25% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 60.32 million shares (or 8.36% of shares), all amounting to roughly $148.98 million.

The next major institution holding the largest number of shares is Primecap Management Company with 46.95 million shares, or about 6.50% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $115.97 million.

We also have VanEck ETF Trust-VanEck Oil Services ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Transocean Ltd. (RIG) shares. Going by data provided on Dec 30, 2022, VanEck ETF Trust-VanEck Oil Services ETF holds roughly 25.13 million shares. This is just over 3.48% of the total shares, with a market valuation of $114.6 million. Data from the same date shows that the other fund manager holds a little less at 19.03 million, or 2.64% of the shares, all valued at about 46.99 million.

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