Transocean (NYSE:RIG) Azioni

Transocean

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. Its segment involves contracting mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells.

Transocean Ltd (Switzerland) Common Stock

Transocean Ltd

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Transocean Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) ("Transocean") today announced that a two-well option was exercised for the Transocean Spitsbergen in Norway. The program is expected to commence in the first quarter of 2026 in direct continuation of the rig's current program and contribute approximately $100 million in backlog, excluding additional services.

News

Contracts

Transocean Secures $100M Contract Extension For Spitsbergen Rig In Norway, With Two-Well Program Set To Begin In Early 2026

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Shares of energy related stocks are trading higher after President Trump said the U.S won't agree to any uranium enrichment by Iran. Additionally, the commodity could be seeing continued strength after OPEC+ decision to keep output levels unchanged.

Morgan Stanley analyst Daniel Kutz maintains Transocean (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) with a Equal-Weight and lowers the price target from $4 to $3.5.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on Transocean, Lowers Price Target to $3.5

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Shares of energy stocks are trading higher amid a rise in the price of oil after the US and China agreed to a temporary reduction in most tariffs. The commodity may be experiencing strength amid escalating conflict between Pakistan and India.

Transocean, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) released its first-quarter results after Monday's closing bell. Here's a look at the details<a href="https://www.benzinga.com/pressreleases/25/04/g45052677/transocean-ltd-reports-first-quarter-2025-results"> from the report. </a>
The Details: Transocean reported first-quarter losses of 10 cents per share, which missed the analyst consensus estimate for losses of nine cents. Quarterly revenue clocked in at $906 million, beating the consensus estimate of $885.7 million.
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For the first quarter, Transocean reported: 
<ul>
<li>Contract drilling revenues for the quarter decreased sequentially by $46 million to $906 million. </li>
<li>Operating and maintenance expense was $618 million, compared with $579 million in the prior quarter. The sequential increase was the result of an unfavorable legal outcome in the first quarter, a favorable legal settlement in the fourth quarter and increased costs related to a rig in shipyard, partially offset by lower in-service maintenance costs across the fleet.</li>
<li>General and administrative expense was $50 million, down from $56 million in the fourth quarter, due primarily to decreased legal and professional fees.</li>
</ul>
&#8220;The Transocean team delivered a solid quarter, with an adjusted EBITDA of $244 million on revenues of $906 million,&#8221; said CEO Jeremy Thigpen. &#8220;We also improved our balance sheet with the repayment of $210 million in outstanding debt.&#8221;
&#8220;While uncertain macroeconomic conditions have resulted in near-term market volatility, including commodity prices, Transocean is very well-positioned to navigate this evolving landscape.&nbsp;In addition to continuing to deliver strong operating performance across our highly contracted fleet, we remain engaged in constructive conversations with our customers on opportunities several years in the future,&#8221; Thigpen added. 
RIG Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Transocean stock was up 1.30% after-hours at $2.31 on Monday.  
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Photo: Shutterstock

Earnings

After-Hours Center

Movers

Transocean Stock Climbs After Mixed Q1 Results: EPS Miss, Revenue Beats

Earnings Beats

Earnings Misses

Transocean Q1 Adj. EPS $(0.10) Misses $(0.09) Estimate, Sales $906M Beat $885.70M Estimate

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Earnings Scheduled For April 28, 2025

Transocean (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) is preparing to release its quarterly earnings on Monday, 2025-04-28. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Transocean to report an earnings per share (EPS) of $-0.10.
The announcement from Transocean is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings History Snapshot</h3>
The company's EPS missed by $0.09 in the last quarter, leading to a 0.0% drop in the share price on the following day.
Here's a look at Transocean's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0</td>
<td>-0.04</td>
<td>-0.10</td>
<td>-0.14</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.09</td>
<td>0</td>
<td>-0.15</td>
<td>-0.03</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>9.0%</td>
<td>-6.0%</td>
<td>-10.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745600515_0.png" alt="eps graph" />
<h3>Market Performance of Transocean's Stock</h3>
Shares of Transocean were trading at $2.29 as of April 24. Over the last 52-week period, shares are down 60.31%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/RIG/earnings">To track all earnings releases for Transocean visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Transocean

Transocean Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company's fleet of offshore drilling rigs.
As of April 16, 2025, the company's total backlog is approximately $7.9 billion.&nbsp;&nbsp;
The report can be accessed on the company's website: <a href="https://www.globenewswire.com/Tracker?data=EvUt4MLex7OCxpfPca94mW3utheSVDYZMytJDYCOhyOUAMI2vQFgQfK86OM0e0ilb4ipk6PNOo1Z09XEFYLj7MjLme7THSuvpX6KJRCn8Qc=">www.deepwater.com</a>.

Transocean Ltd. Provides Quarterly Fleet Status Report; Says As Of April 16, 2025, The Company's Total Backlog Is ~$7.9B

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IEO targets exploration and production companies — the most oil-price-sensitive sub-sector. The slight rebound in Brent, driven by the White House&#8217;s brief reprieve from tariffs on technology products and optimism for resumed Middle East diplomacy, has lent new life to small- and mid-cap E&amp;P stocks. ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) is one of its top holdings. However, the rally might be fleeting, with OPEC lowering its growth and lowering demand projections for oil consumption. Reuters reported that OPEC has lowered its world economic growth forecast this year to 3.0% from 3.1% and cut next year&#8217;s to 3.1% from 3.2%. 
SPDR S&amp;P Oil &amp; Gas Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XES#NYSE">XES</a>)
Oilfield service companies, like those held in XES, are often the last to reap the benefits of higher prices because of capital spending cycles. The shock OPEC+ cut to accelerate output recovery might trigger upstream activity, indirectly benefiting service providers like Tidewater Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDW#NYSE">TDW</a>) and Transocean Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>), one of this fund&#8217;s top holdings.
A Diplomatic Thaw
The weekend witnessed a thaw in US-Iran<a href="https://finance.yahoo.com/news/oil-steady-trump-tariff-reprieve-223603774.html"> relations as senior officials</a> from both countries held talks in Oman — the first senior-level meeting since 2022. While information is still limited, the tone of the conversation was said to be &#8220;constructive,&#8221; hinting at a possible blueprint to restart stalled talks on Tehran&#8217;s nuclear program. The two sides committed to another meeting, injecting new optimism into a region long influenced by volatility and oil market instability.
Though a long-term deal is far from certain, even the potential for diplomatic breakthrough has moderated concerns about supply disruptions in the Strait of Hormuz — a critical chokepoint for global oil flows. Meanwhile, it also raised questions about whether Iranian crude oil might return to the market in significant quantities, making an already tenuous supply-demand balance even more complicated.
The Bigger Picture
The oil price rally, though propelled by newsworthy catalysts such as tariff delays and diplomatic talks, is confronted with structural headwinds. Nevertheless, ETF investors seem to be content to ride the volatility, particularly with equities mounting a parallel rebound and safe-haven assets lagging.
Investors are now focusing keenly on rig count trends and Q2 CapEx releases to assess the real-world effect of the Brent bounce. According to recent data by the Energy Information Administration, Baker Hughes found that for the week ending April 1, the natural gas rig count dropped to 96 rigs from 103 rigs in the prior week. Typically, lower rigs mean tightened supply, which in turn means upward pressure on oil prices.
On the other hand, banks slashed their price forecasts, with JPMorgan Chase &amp; Co. now seeing Brent at $66 this year and Goldman Sachs expecting an average of $63, as the crude market continues to be poised to encounter substantial surpluses.
While the geopolitical board game is still unfolding, energy ETFs are an on-again, off-again — albeit volatile — strategy on oil&#8217;s journey through 2025. 
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/currency-etfs/25/04/44778378/greenback-on-the-brink-the-dollar-etfs-everyones-watching">Greenback On The Brink: The Dollar ETFs Everyone&#8217;s Watching</a></li>
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Photo: Shutterstock

Sector ETFs

Commodities

ETFs

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

SPDR S&P Oil & Gas Equipment & Services ETF

US-Iran Talks Fuel Oil Rally: Here Are 3 Energy ETFs In The Radar

Susquehanna analyst Charles Minervino maintains Transocean (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) with a Positive and lowers the price target from $5 to $4.

Susquehanna Maintains Positive on Transocean, Lowers Price Target to $4

AESI

BORR

CTRA

DINO

EQNR

GLNG

HESM

MTDR

PAGP

SDRL

SHEL

TALO

VNOM

Shares of energy companies are trading lower as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

CLMT

HAFN

LTBR

Shares of energy stocks are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

Barclays analyst David Anderson maintains Transocean (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) with a Overweight and lowers the price target from $4 to $3.5.

Barclays Maintains Overweight on Transocean, Lowers Price Target to $3.5

CGBS

Shares of energy companies are trading lower as markets react to President Trump's announcement of sweeping tariffs.

Morgan Stanley analyst Daniel Kutz maintains Transocean (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) with a Equal-Weight and lowers the price target from $5 to $4.

Morgan Stanley Maintains Equal-Weight on Transocean, Lowers Price Target to $4

Citigroup analyst Scott Gruber maintains Transocean (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) with a Neutral and lowers the price target from $4.5 to $3.5.

Citigroup Maintains Neutral on Transocean, Lowers Price Target to $3.5

CSAN

HNRG

Shares of energy stocks are trading higher amid strength in oil and natural gas prices.

KLXE

Shares of energy companies are trading higher amid ongoing volatility, possibly concerning tariff delays, global conflict and recent OPEC+ production.

Shares of companies in the broader energy sector are trading lower after president Trump confirmed Mar 4 tariffs, which could affect demand outlook.

Press Releases

Shareholders that lost money on Transocean Ltd.(RIG) Urged to Join Class Action – Contact Levi & Korsinsky to Learn More

Legal

RIG DEADLINE TODAY: ROSEN, LEADING INVESTOR COUNSEL, Encourages Transocean Ltd. Investors to Secure Counsel Before Important February 24 Deadline in Securities Class Action – RIG

FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Transocean

Transocean Ltd. Investors: Please contact the Portnoy Law Firm to recover your losses; February 24, 2025 Deadline to file Lead Plaintiff Motion

Transocean Ltd. Announces First Quarter 2025 Earnings Release Date

General

Transocean Ltd. Provides Quarterly Fleet Status Report

Transocean Ltd. Announces Time Change for First Quarter 2025 Earnings Call

Emerging Growth Leaders: – INEO, PLUG, HIT, GLMD, OMEX, More Stocks Inside – Health, Energy, Mining, and Defense Making Headlines

Transocean Ltd. Reports First Quarter 2025 Results

Transocean Ltd. Announces Exercise of $100 Million Option for Harsh Environment Semisubmersible

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