Transocean (RIG) Projected to Post Quarterly Earnings on Wednesday

Transocean (NYSE:RIG - Get Free Report) is projected to release its Q2 2026 results after the market closes on Wednesday, August 5th. Analysts expect Transocean to post earnings of $0.01 per share and revenue of $956.8040 million for the quarter. Individuals may review the information on the company's upcoming Q2 2026 earning results page for the latest details on the call scheduled for Thursday, August 6, 2026 at 9:00 AM ET.

Transocean (NYSE:RIG - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted ($0.10) earnings per share. The firm's quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts expect Transocean to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Transocean Stock Down 5.2%

Shares of RIG opened at $5.00 on Wednesday. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of -1.68, a PEG ratio of 3.67 and a beta of 1.30. Transocean has a 52 week low of $2.72 and a 52 week high of $7.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.54. The stock has a fifty day moving average of $5.61 and a 200-day moving average of $5.86.

Insider Buying and Selling

In related news, Director Chad C. Deaton purchased 35,000 shares of Transocean stock in a transaction on Thursday, July 2nd. The shares were purchased at an average price of $4.95 per share, for a total transaction of $173,250.00. Following the transaction, the director owned 237,421 shares of the company's stock, valued at approximately $1,175,233.95. This represents a 17.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.70% of the company's stock.

Institutional Trading of Transocean

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Annandale Capital LLC lifted its position in shares of Transocean by 17.7% in the 4th quarter. Annandale Capital LLC now owns 16,600 shares of the offshore drilling services provider's stock worth $69,000 after purchasing an additional 2,500 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Transocean by 20.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 24,175 shares of the offshore drilling services provider's stock valued at $75,000 after buying an additional 4,026 shares during the period. J.W. Cole Advisors Inc. boosted its position in Transocean by 5.7% during the fourth quarter. J.W. Cole Advisors Inc. now owns 106,334 shares of the offshore drilling services provider's stock valued at $435,000 after acquiring an additional 5,700 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Transocean by 12.4% during the 4th quarter. Mackenzie Financial Corp now owns 53,238 shares of the offshore drilling services provider's stock worth $219,000 after acquiring an additional 5,877 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Transocean by 9.8% in the 2nd quarter. Cerity Partners LLC now owns 66,203 shares of the offshore drilling services provider's stock worth $171,000 after acquiring an additional 5,888 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RIG. TD Cowen increased their target price on Transocean from $5.50 to $6.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Morgan Stanley boosted their price target on Transocean from $5.00 to $7.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 15th. Barclays upgraded shares of Transocean from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $6.00 to $8.00 in a report on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Transocean in a research report on Friday, July 17th. Finally, Susquehanna decreased their price target on shares of Transocean from $8.00 to $7.00 and set a "positive" rating for the company in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $6.82.

About Transocean

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean's fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company's core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.

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