About Transocean (NYSE:RIG)
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company's primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units. As of February 9, 2017, its fleet consisted of 30 floaters, seven harsh environment floaters, three deepwater floaters, six midwater floaters and 10 high-specification jackups. As February 9, 2017, it also had four ultra-deepwater drillships and five high-specification jackups under construction or under contract to be constructed. Its contract drilling services operations are spread across oil and gas exploration and development areas throughout the world. The Company's drilling fleet can be characterized as floaters, including drillships and semisubmersibles, and jackups.
Industry, Sector and Symbol
Industry Oil & Gas Drilling
Trailing P/E Ratio11.89
Forward P/E Ratio-27.79
Sales & Book Value
Annual Sales$4.16 billion
Price / Sales0.89
Cash Flow$3.95 per share
Price / Cash2.39
Book Value$40.60 per share
Price / Book0.23
Net Income$778 million
Return on Equity2.10%
Return on Assets1.23%
Transocean (NYSE:RIG) Frequently Asked Questions
What is Transocean's stock symbol?
Transocean trades on the New York Stock Exchange (NYSE) under the ticker symbol "RIG."
How were Transocean's earnings last quarter?
Transocean Ltd. (NYSE:RIG) issued its earnings results on Wednesday, November, 1st. The offshore drilling services provider reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of ($0.04) by $0.20. The offshore drilling services provider earned $808 million during the quarter, compared to analyst estimates of $703.13 million. Transocean had a negative net margin of 84.09% and a positive return on equity of 2.10%. The business's revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. View Transocean's Earnings History.
When will Transocean make its next earnings announcement?
Where is Transocean's stock going? Where will Transocean's stock price be in 2017?
32 equities research analysts have issued 1 year target prices for Transocean's stock. Their forecasts range from $7.00 to $21.00. On average, they expect Transocean's stock price to reach $12.15 in the next twelve months. View Analyst Ratings for Transocean.
What are Wall Street analysts saying about Transocean stock?
Here are some recent quotes from research analysts about Transocean stock:
- 1. According to Zacks Investment Research, "Transocean displays excellent track record of earnings surprise history, beating estimates in the last 16 quarters. We like Transocean's technologically advanced and versatile drilling fleet, strong backlog, healthy financials and considerable pricing power. With the market for offshore rigs unlikely to turn around anytime soon, the company has been selling/stacking older rigs as well as investing in high-specification rigs in order to improve the quality of its fleet. The recent acquisition of Songa Offshore by RIG bodes well for the company as it is expected to strengthen Transocean’s portfolio and boost its backlog. Nevertheless, we expect RIG shares to remain soft until oil prices rebound sufficiently, as deepwater/ultra-deepwater drilling – with its associated risks and steep costs – require a far higher oil price than what is prevailing currently. Thus we take a cautious stance on the prospects of the stock." (10/17/2017)
- 2. Jefferies Group LLC analysts commented, "Our time with management suggested that RIG sees a tougher path ahead towards pricing recovery for jackups than for floaters and that RIG is keen to have the flexibility to pursue floater deals; combined, these views were the impetus for the Borr deal. On M&A, we sensed more of an interest in niche assets (harsh environment) and/or smaller companies and in particular those with leverage to niche markets. We tweak our model for the Borr transaction." (3/21/2017)
- 3. Evercore ISI analysts commented, "We noted in our Recap and Weekly that Borr Drilling was reportedly interested in purchasing Transocean's jackup fleet. According to Tradewinds, the Norwegian startup is "closing in" on a $1.2 billion deal to acquire a fleet of 15 RIG jackups. The potential transaction would entail Transocean's entire active fleet of 10 high-specification jack-ups, plus another five newbuilds under construction at Singapore's Keppel FELS, for a total price of $1.2 billion. Another $1.125 billion is due on the five newbuilds, which would be assumed by Borr Drilling as these rigs have been deferred until 2020. Excluding the $290 million already paid for these newbuilds, the reported purchase price averages to $120 million per jackup and is well above our Bull Case estimate of $96 million and IHS-Petrodata's $80 million estimate for >=350' IC modern jackups. Half of Transocean's active jackup fleet is currently stacked while the other half is contracted for 38 rig months (average 7.6 months per rig) for $172 million in backlog (only 1.5% of RIG's total $11.3 billion)." (3/13/2017)
- 4. Instinet analysts commented, ". RIG's 4Q results were a step in the right direction in terms of further lowering operating costs and delivering effective performance as fleet-wide revenue efficiency was 100%+. RIG was also proactive in the quarter with respect to its balance sheet, raising $1.25bn+ in cash through secured debt offerings on two of its drillships contracted with Shellthe Deepwater Thalassa and the Deepwater Proteus. While RIG still has the biggest 2020 cash shortfall among the drillers according to our cash flow bridges, RIG has the most levers to pull in terms of extending its liquidity runway by raising additional capital through continued secured debt offerings, or extending the timing of its remaining newbuild payments." (2/27/2017)
Are investors shorting Transocean?
Transocean saw a increase in short interest during the month of November. As of November 30th, there was short interest totalling 84,906,247 shares, an increase of 6.4% from the November 15th total of 79,805,102 shares. Based on an average daily trading volume, of 8,181,013 shares, the days-to-cover ratio is presently 10.4 days. Approximately 21.7% of the company's stock are sold short.
Who are some of Transocean's key competitors?
Some companies that are related to Transocean include Helmerich & Payne (HP), Patterson-UTI Energy (PTEN), Ensco (ESV), Diamond Offshore Drilling (DO), Rowan Companies (RDC), Nabors Industries (NBR), Transocean Partners (RIGP), Mammooth Energy (TUSK), Atwood Oceanics (ATW), Precision Drilling (PDS), Pioneer Energy Services (PES), Union Drilling (UDRL), Seadrill (SDRL), Parker Drilling (PKD) and Pacific Drilling (PACDQ).
Who are Transocean's key executives?
Transocean's management team includes the folowing people:
- Merrill A. Miller Jr., Independent Chairman of the Board (Age 66)
- Jeremy D. Thigpen, President, Chief Executive Officer, Director (Age 42)
- Mark-Anthony L. Mey, Chief Financial Officer, Executive Vice President (Age 53)
- John B. Stobart, Chief Operating Officer, Executive Vice President (Age 62)
- Howard E. Davis, Executive Vice President, Chief Administrative Officer, Chief Information Officer (Age 58)
- Brady K. Long, Senior Vice President, General Counsel (Age 44)
- David A. Tonnel, Senior Vice President, Supply Chain and Corporate Controller (Age 47)
- Terry B. Bonno, Senior Vice President - Industry and Community Relations (Age 59)
- Glyn A. Barker, Independent Director (Age 64)
- Vanessa Chee Ling Chang, Independent Director (Age 64)
Who owns Transocean stock?
Transocean's stock is owned by a number of of retail and institutional investors. Top institutional investors include Dimensional Fund Advisors LP (3.25%), Contrarius Investment Management Ltd (2.75%), Van ECK Associates Corp (1.52%), Thompson Siegel & Walmsley LLC (1.18%), Bank of New York Mellon Corp (1.17%) and Prudential Financial Inc. (0.66%). Company insiders that own Transocean stock include David A Tonnel, Howard E Davis and Vanessa C L Chang. View Institutional Ownership Trends for Transocean.
Who sold Transocean stock? Who is selling Transocean stock?
Transocean's stock was sold by a variety of institutional investors in the last quarter, including Thompson Siegel & Walmsley LLC, Legal & General Group Plc, Cornerstone Capital Management Holdings LLC., Engineers Gate Manager LP, Barings LLC, Ingalls & Snyder LLC, Piedmont Investment Advisors LLC and GSA Capital Partners LLP. View Insider Buying and Selling for Transocean.
Who bought Transocean stock? Who is buying Transocean stock?
Transocean's stock was bought by a variety of institutional investors in the last quarter, including Alyeska Investment Group L.P., Principal Financial Group Inc., Horseman Capital Management Ltd, Los Angeles Capital Management & Equity Research Inc., Bank of New York Mellon Corp, Ameriprise Financial Inc., Contrarius Investment Management Ltd and Schroder Investment Management Group. Company insiders that have bought Transocean stock in the last two years include Howard E Davis and Vanessa C L Chang. View Insider Buying and Selling for Transocean.
How do I buy Transocean stock?
Shares of Transocean can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Transocean's stock price today?
One share of Transocean stock can currently be purchased for approximately $9.45.
How big of a company is Transocean?
Transocean has a market capitalization of $3.72 billion and generates $4.16 billion in revenue each year. The offshore drilling services provider earns $778 million in net income (profit) each year or ($7.11) on an earnings per share basis. Transocean employs 5,400 workers across the globe.
How can I contact Transocean?
Transocean's mailing address is Turmstrasse30, Zug V8, 6300. The offshore drilling services provider can be reached via phone at 41-41-749-0500 or via email at [email protected]
MarketBeat Community Rating for Transocean (RIG)MarketBeat's community ratings are surveys of what our community members think about Transocean and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Transocean (NYSE:RIG) Analysts' Consensus Rating (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Today||30 Days Ago||90 Days Ago||180 Days Ago|
|Consensus Rating: ||Hold||Hold||Hold||Hold|
|Consensus Rating Score: ||2.08||2.10||2.03||1.84|
|Ratings Breakdown: ||11 Sell Rating(s)|
13 Hold Rating(s)
14 Buy Rating(s)
0 Strong Buy Rating(s)
|11 Sell Rating(s)|
13 Hold Rating(s)
15 Buy Rating(s)
0 Strong Buy Rating(s)
|11 Sell Rating(s)|
14 Hold Rating(s)
12 Buy Rating(s)
0 Strong Buy Rating(s)
|16 Sell Rating(s)|
12 Hold Rating(s)
10 Buy Rating(s)
0 Strong Buy Rating(s)
|Consensus Price Target: ||$11.79||$12.00||$11.87||$12.77|
|Price Target Upside: ||4.87% upside||6.75% upside||38.67% upside||49.21% upside|
Transocean (NYSE:RIG) Consensus Price Target History
Transocean (NYSE:RIG) Analyst Ratings History
(Data available from 12/16/2015 forward)
Transocean (NYSE:RIG) Earnings History and Estimates Chart
Transocean (NYSE RIG) Earnings History by Quarter
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|11/1/2017||Q3 2017||($0.04)||$0.16||$703.13 million||$808.00 million||View||N/A|
|5/3/2017||3/31/2017||($0.08)||$0.01||$737.51 million||$785.00 million||View||Listen|
|2/23/2017||12/31/2016||$0.08||$0.63||$785.52 million||$974.00 million||View||Listen|
|8/3/2016||Q2||($0.01)||$0.17||$914.38 million||$943.00 million||View||Listen|
|5/4/2016||Q1||$0.29||$0.69||$1.14 billion||$1.34 billion||View||Listen|
|2/24/2016||Q4||$0.73||$1.68||$1.44 billion||$1.85 billion||View||Listen|
|11/4/2015||Q3||$0.68||$0.87||$1.59 billion||$1.61 billion||View||Listen|
|8/5/2015||Q2||$0.50||$1.11||$1.70 billion||$1.88 billion||View||Listen|
|5/6/2015||Q115||$0.60||$1.10||$1.91 billion||$2.04 billion||View||Listen|
|2/25/2015||Q414||$0.77||$0.95||$2.12 billion||$2.24 billion||View||Listen|
|11/10/2014||Q314||$0.82||($6.12)||$2.19 billion||$2.27 billion||View||Listen|
|8/6/2014||Q214||$1.12||$1.61||$2.27 billion||$2.33 billion||View||Listen|
|5/7/2014||Q114||$1.03||$1.43||$2.27 billion||$2.34 billion||View||Listen|
|2/26/2014||Q413||$1.18||$0.73||$2.36 billion||$2.33 billion||View||Listen|
|11/7/2013||Q313||$1.18||$1.37||$2.49 billion||$2.56 billion||View||Listen|
|8/7/2013||Q2 2013||$1.08||$1.08||$2.40 billion||$2.40 billion||View||Listen|
|5/8/2013||Q1 2013||$1.01||$0.93||$2.35 billion||$2.20 billion||View||Listen|
|3/4/2013||Q4 2012||$0.80||$0.91||$2.37 billion||$2.33 billion||View||Listen|
|11/5/2012||Q312||$0.77||$1.37||$2.54 billion||$2.70 billion||View||N/A|
Transocean (NYSE:RIG) Earnings Estimates
2017 EPS Consensus Estimate: ($0.38)
2018 EPS Consensus Estimate: ($0.67)
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Transocean (NYSE:RIG) Dividend Information
|Most Recent Dividend:||9/23/2015|
|Dividend Growth:||0.00% (3 Year Average)|
|Payout Ratio:||0.00% (Trailing 12 Months of Earnings) |
0.00% (Based on This Year's Estimates)
0.00% (Based on Next Year's Estimates)
|Track Record:||4 Years of Consecutive Dividend Growth|
Transocean (NYSE:RIG) Dividend History by Quarter
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Transocean (NYSE RIG) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 0.33%
Institutional Ownership Percentage: 73.09%
Transocean (NYSE RIG) Insider Trades by Quarter
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|8/17/2017||Howard E Davis||CAO||Buy||40,000||$7.32||$292,800.00|| |
|8/17/2017||Vanessa C L Chang||Director||Buy||2,000||$7.56||$15,120.00|| |
|4/27/2017||David A Tonnel||SVP||Sell||9,450||$11.28||$106,596.00|| |
|9/23/2015||Lars Sjobring||SVP||Sell||5,324||$14.40||$76,665.60|| |
|9/2/2015||Vanessa C L Chang||Director||Buy||1,500||$13.50||$20,250.00|| |
|12/1/2014||Steven L Newman||CEO||Buy||9,800||$20.41||$200,018.00|| |
|9/5/2014||David A Tonnel||SVP||Sell||1,053||$38.31||$40,340.43|| |
|8/27/2014||John B Stobart||COO||Sell||8,451||$38.07||$321,729.57|| |
|6/9/2014||Edward R Muller||Director||Sell||1,816||$42.75||$77,634.00|| |
Transocean (NYSE RIG) News Headlines
Transocean (NYSE:RIG) SEC Filings
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Transocean (NYSE:RIG) Income Statement, Balance Sheet and Cash Flow Statement
Transocean (NYSE RIG) Stock Chart for Saturday, December, 16, 2017