RIG Stock Recent News
RIG LATEST HEADLINES
Although the revenue and EPS for Transocean (RIG) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Transocean (RIG) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.22. This compares to loss of $0.06 per share a year ago.
After the close of Wednesday's session, leading offshore driller Transocean released a rather disappointing fleet status report. While the company added approximately $745 million in incremental backlog, the vast majority was derived from previously disclosed long-term contract awards for the drillships Dhirubhai Deepwater KG1 and Deepwater Aquila. Transocean experienced a number of delays to long-term contract commencements which might result in the requirement for management to lower near-term expectations on the upcoming Q3 conference call.
Transocean (RIG) closed at $7.58 in the latest trading session, marking a +0.93% move from the prior day.
STEINHAUSEN, Switzerland, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the third quarter 2023 after the close of trading on the NYSE on Monday, October 30, 2023.
Transocean's stock is struggling to break through the $9 resistance line, but could reach double digits this year. New drilling contracts and rising oil prices are positive indicators for offshore drillers. The current conditions for offshore drillers suggest an upcycle.
The final trades of the day with CNBC's Melissa Lee and the Fast Money traders.
Offshore drilling services provider Transocean Ltd. RIG, +2.95% said Tuesday it's planning a private offering of $300 million of five-year bonds.
Crude oil has gone through extreme volatility in the last three years. From 2020 historical lows, crude averaged $100.9 per barrel last year.
I strongly believe that 2024 is likely to be a year to remain invested in growth stocks. After a big correction in 2022, there are several growth stocks to buy that trade at attractive valuations.