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Transocean Ltd (NYSE: RIG)’s Stock Performance and Outlook

In the last trading session, 16.59 million Transocean Ltd (NYSE:RIG) shares changed hands as the company’s beta touched 2.79. With the company’s per share price at $5.33 changed hands at $0.18 or 3.50% during last session, the market valuation stood at $4.31B. RIG’s last price was a discount, traded about -66.6% off its 52-week high of $8.88. The share price had its 52-week low at $4.90, which suggests the last value was 8.07% up since then. When we look at Transocean Ltd’s average trading volume, we note the 10-day average is 18.4 million shares, with the 3-month average coming to 1.05.

Transocean Ltd (NYSE:RIG) trade information

Instantly RIG was in green as seen at the end of in last trading. With action 7.03%, the performance over the past five days has been green. The jump to weekly highs of 5.39 added 3.50% to the stock’s daily price. The company’s shares are showing year-to-date downside of -16.06%, with the 5-day performance at 7.03% in the green. However, in the 30-day time frame, Transocean Ltd (NYSE:RIG) is -4.65% down. Looking at the short shares, we see there were 129.87 million shares sold at short interest cover period of 7.92 days.

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Transocean Ltd (RIG) estimates and forecasts

Data shows that the Transocean Ltd share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -38.02% over the past 6 months, a -10.75% in annual growth rate that is considerably lower than the industry average of 1.80%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 35.57%. The 2024 estimates are for Transocean Ltd earnings to decrease by -4.42%.

RIG Dividends

Transocean Ltd is expected to release its next quarterly earnings report on February 19.

Transocean Ltd (NYSE:RIG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 6.81% of Transocean Ltd shares while 69.19% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.24%. There are 69.19% institutions holding the Transocean Ltd stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.49% of the shares, roughly 65.08 million RIG shares worth $456.23 million.

Primecap Management Company holds the second largest percentage of outstanding shares, with 5.93% or 45.47 million shares worth $318.71 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 21.58 million shares estimated at $151.25 million under it, the former controlled 2.81% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.32% of the shares, roughly 17.81 million shares worth around $124.84 million.

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