RIG Stock Summary and Trading Ideas (Transocean (Switzerland) | NYSE:RIG)

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 (Switzerland) trades on the NYSE stock market under the symbol RIG.

As of November 8, 2024, RIG stock price declined to $4.39 with 11,001,415 million shares trading.

RIG has a beta of 0.86, meaning it tends to be less sensitive to market movements. RIG has a correlation of 0.06 to the broad based SPY ETF.

RIG has a market cap of $3.84 billion. This is considered a Mid Cap stock.

Last quarter Transocean (Switzerland) reported $948 million in Revenue and $.00 earnings per share. This beat revenue expectation by $4 million and exceeded earnings estimates by $.04.

In the last 3 years, RIG traded as high as $8.88 and as low as $2.32.

The top ETF exchange traded funds that RIG belongs to (by Net Assets): VTI, IWM, VB, OIH, VXF.

RIG has underperformed the market in the last year with a return of -32.5%, while the SPY ETF gained +38.5%. In the last 3 month period, RIG fell short of the market, returning -12.7%, while SPY returned +15.7%. However, in the most recent 2 weeks RIG has outperformed the stock market by returning +7.1%, while SPY returned +3.3%.

RIG support price is $4.42 and resistance is $4.72 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RIG shares will trade within this expected range on the day.