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Transocean ( (RIG) ) has provided an announcement.
Transocean Ltd. announced contract fixtures for two of its ultra-deepwater drillships, totaling approximately $243 million in firm contract backlog. In the U.S. Gulf of America, bp exercised a 365-day option for the Deepwater Atlas, contributing $232 million to the backlog, while in Brazil, Petrobras exercised a 30-day option for the Deepwater Mykonos, adding $11 million. These developments reflect Transocean’s strong positioning in the offshore drilling market and its continued ability to secure substantial contracts with major oil companies.
The most recent analyst rating on (RIG) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Transocean stock, see the RIG Stock Forecast page.
Spark’s Take on RIG Stock
According to Spark, TipRanks’ AI Analyst, RIG is a Neutral.
Transocean’s overall stock score reflects a company with mixed financial performance and valuation concerns, offset by positive technical indicators and an optimistic earnings call. The company’s strong backlog and cost management efforts are promising, but profitability challenges and recent rig sales impact the score.
To see Spark’s full report on RIG stock, click here.
More about Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells, specializing in ultra-deepwater and harsh environment drilling services. It operates the highest specification floating offshore drilling fleet in the world, with a fleet of 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh environment floaters.
Average Trading Volume: 32,216,680
Technical Sentiment Signal: Sell
Current Market Cap: $3.42B
For a thorough assessment of RIG stock, go to TipRanks’ Stock Analysis page.