12.75 +0.05 (0.39%)
After hours: 7:43PM EDT
|Bid||12.61 x 900|
|Ask||0.00 x 900|
|Day's Range||12.58 - 13.06|
|52 Week Range||7.20 - 14.16|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||12.78|
In the first quarter, Transocean’s (RIG) drilling revenues were $664 million—5.5% higher than its revenues of $629 million in the previous quarter and 11.2% lower than its revenues of $748 million in the first quarter of 2017. Transocean was the only company among its peers that saw higher revenues from the fourth quarter. Transocean expects its second-quarter revenues to increase 14% from the first quarter.
Since the downturn started, offshore drilling companies have had a hard time securing contracts. Offshore drilling companies are utilizing their backlogs quicker than they’re replenishing them through new contracts. The decline in the company’s backlog was due to realized revenues during the first quarter, which were partially offset by contract extensions and new contract awards.
ExxonMobil (XOM) is set to collaborate on a pipeline to ease the Permian glut, Chevron (CVX) starts production at second Wheatstone LNG train and Transocean (RIG) will retire four rigs.
None of the analysts revised their recommendations or target prices for offshore drilling stocks in Week 24, which ended on June 15.
Transocean (RIG) has been facing pressure in its top line owing to lower contract drilling revenues from the deepwater and ultra-deepwater floaters amid reduced dayrates and weak utilization.
Shares of Transocean (RIG) are falling on Friday, after the oilfield-services firm said it will retire four of its older rigs, and take a $520 million related charge. Bernstein's Colin Davies reiterated a Market Weight rating on the shares today, and writes that Transcoean decided to scrap the rigs because they weren't competitive in today's market. "Older rigs built before this decades' massive new build cycle are squeezed out and eventual scrappage is inevitable." Of course, Transocean isn't the only company with aging rigs on its books.
In this part, we’ll see how analysts revised their target prices and recommendations for offshore drilling stocks in week 23—the week ending June 8.
In the week ended June 8, the oil rig count rose by one from the previous week to 862—the highest level in more than three years. The US oil rig count tends to follow US crude oil prices with a three- to six-month lag.
NEW YORK, NY / ACCESSWIRE / June 8, 2018 / U.S. markets were mixed Thursday as a selloff in technology shares weighed in major indexes. The Dow Jones Industrial Average increased 0.38 percent to close ...
NEW YORK, June 08, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of BP ...
Higher oil prices mean energy continues to look attractive. That's why these investors like Enterprise Products Partners, Enbridge, and Transocean right now.
Switzerland-based Transocean Ltd. (NYSE: RIG), a provider of offshore oil and gas drilling services that has its main U.S. office in Houston, announced June 4 that its COO has retired. John Stobart retired from the roles of executive vice president, COO and chief performance officer. Keelan Adamson, the company’s senior vice president of operations, assumed Stobart’s duties on June 1. Stobart assumed the roles when he joined Transocean in October 2012.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. Transocean is one of Switzerland’s some insider buying over the past three months,Read More...
Transocean Ltd. (RIG) announced today that John Stobart, Executive Vice President, Chief Operating Officer and Chief Performance Officer, is retiring. Keelan Adamson, the company’s Senior Vice President – Operations, has assumed Mr. Stobart’s responsibilities, effective June 1, 2018. “It has been my sincere pleasure to work with John over these past three years,” said Jeremy Thigpen, President and Chief Executive Officer.
The operating cash flow represents the cash flow from a company’s core operations. In the first quarter, Transocean’s (RIG) cash flow from operations dropped to $103 million from $244 million in the previous quarter. Transocean’s capex stood at $53 million in the first quarter.
Seadrill Partners’ (SDLP) backlog was $1.3 billion on May 24. It fell from $1.5 billion in February. A company’s backlog helps investors to gauge what its revenue might be in the future.
Transocean (RIG) expects its second-quarter revenues to increase 14% from the first quarter. In the first quarter, Transocean’s (RIG) drilling revenues were $664 million—5.5% higher than its revenues of $629 million in the previous quarter and 11.2% lower than its revenues of $748 million in the first quarter of 2017. Transocean acquired these floaters from Songa on January 30.
As of May 30, Transocean (RIG) stock had a good run in the last three months. The stock rose more than 37% during this period. Currently, Transocean is trading 11.2% lower than its 52-week high and 74.5% higher than its 52-week low. The Dow Jones Industrial Average (DIA) has fallen 1.4% in last three months as of May 30. The SPDR S&P 500 ETF (SPY) has risen 0.35% during the same period.
Seadrill Partners (SDLP) released its results for the first quarter of 2018 on May 25. Its stock hasn’t had a good run YTD (year-to-date), falling more than 11% during the period.
On May 24, Ashland (ASH) announced that it will increase maleic anhydride prices by $0.06 per pound. The price increase will be effective on June 7 or as the contract allows. The price increase will likely impact the North American region.