Transocean (NYSE:RIG) Cut to Equal Weight at Barclays

Barclays cut shares of Transocean (NYSE:RIG) from an overweight rating to an equal weight rating in a report issued on Wednesday, MarketBeat reports. The firm currently has $6.00 price objective on the offshore drilling services provider’s stock, up from their previous price objective of $4.50.

A number of other equities analysts also recently weighed in on RIG. Morgan Stanley set a $4.50 target price on Transocean in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Transocean in a research note on Thursday, January 22nd. Fearnley Fonds lowered shares of Transocean from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. BTIG Research boosted their price target on shares of Transocean from $6.00 to $10.00 and gave the company a “buy” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Transocean in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $5.44.

Transocean Price Performance

Shares of NYSE:RIG opened at $6.51 on Wednesday. The company’s fifty day moving average is $4.75 and its two-hundred day moving average is $3.96. The company has a market cap of $7.17 billion, a P/E ratio of -1.98 and a beta of 1.46. Transocean has a 12-month low of $1.97 and a 12-month high of $6.57. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.60.

Transocean (NYSE:RIG) last issued its quarterly earnings results on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Transocean had a negative net margin of 73.52% and a positive return on equity of 0.40%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. Equities analysts expect that Transocean will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Transocean

In other Transocean news, EVP Roderick James Mackenzie sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $4.48, for a total transaction of $156,800.00. Following the transaction, the executive vice president directly owned 212,072 shares in the company, valued at $950,082.56. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeremy D. Thigpen sold 500,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $4.32, for a total value of $2,160,000.00. Following the completion of the sale, the insider directly owned 2,136,223 shares of the company’s stock, valued at $9,228,483.36. This represents a 18.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 712,970 shares of company stock worth $3,152,132 in the last ninety days. Company insiders own 12.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC boosted its position in Transocean by 12.1% during the first quarter. Integrated Wealth Concepts LLC now owns 69,637 shares of the offshore drilling services provider’s stock worth $221,000 after purchasing an additional 7,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Transocean by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 434,031 shares of the offshore drilling services provider’s stock worth $1,376,000 after buying an additional 18,957 shares during the period. Goldman Sachs Group Inc. grew its stake in Transocean by 88.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,151,817 shares of the offshore drilling services provider’s stock valued at $38,521,000 after buying an additional 5,719,637 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Transocean by 39.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 209,007 shares of the offshore drilling services provider’s stock worth $541,000 after acquiring an additional 58,960 shares during the period. Finally, CWM LLC lifted its position in Transocean by 150.5% during the 2nd quarter. CWM LLC now owns 17,396 shares of the offshore drilling services provider’s stock worth $45,000 after acquiring an additional 10,451 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

More Transocean News

Here are the key news stories impacting Transocean this week:

• Positive Sentiment: Company reported multiple new contract awards and option exercises that add about $610 million of incremental backlog, bringing reported backlog to roughly $6.1 billion — supports revenue visibility for upcoming quarters. Fleet Status Report
• Positive Sentiment: Company outlined a pro‑forma backlog of ~$11 billion and said it targets ~1.5x net leverage after the Valaris acquisition — this signals stronger scale and leverage policy that could materially improve cash‑flow profile if the deal closes and synergies materialize. Pro‑Forma Backlog / Valaris
• Neutral Sentiment: Q4 revenue of $1.04B modestly beat consensus (~$1.03B) and revenue rose ~9.6% year‑over‑year, providing top‑line confirmation of improving demand in ultra‑deepwater/harsh‑enviro drilling. Q4 Results Release
• Neutral Sentiment: Company posted updated FY‑2026 and Q1‑2026 revenue guidance ranges (Q1: ~$1.0–1.1B; FY: ~$3.8–4.0B) roughly in line with Street expectations — guidance reduces uncertainty around 2026 revenue but left EPS guidance unclear in releases. Guidance Update
• Negative Sentiment: Adjusted EPS of $0.02 missed consensus (~$0.08–0.09), and the company still shows a wide negative net margin — the earnings miss is the immediate catalyst for analyst caution and short‑term volatility. Earnings Summary
• Negative Sentiment: Barclays downgraded Transocean to Equal Weight (and other analysts have raised varied views), a sign that some sell‑side desks see limited near‑term upside despite operational wins — downgrades can pressure shares and cap rallies. Barclays Downgrade
• Neutral Sentiment: Investor commentary and media pieces highlight RIG as a momentum name and discuss longer‑term upside tied to fleet specialization and consolidation — these narratives can attract momentum buyers but are longer‑dated drivers. Momentum Coverage
• Neutral Sentiment: Earnings call/transcript and analyst roundups provide more color on contract mix, dayrates, and capex — these details will matter to investors assessing margin recovery and the Valaris integration; listen to/read the call for specifics. Earnings Call Transcript

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.