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 April 19, 2024, RIG stock price climbed to $5.67 with 15,601,606 million shares trading.

RIG has a beta of 1.10, meaning it tends to be more sensitive to market movements. RIG has a correlation of 0.09 to the broad based SPY ETF.

RIG has a market cap of $4.65 billion. This is considered a Mid Cap stock.

Last quarter Transocean (Switzerland) reported $741 million in Revenue and -$.09 earnings per share. This fell short of revenue expectation by $-20 million and exceeded earnings estimates by $.14.

In the last 3 years, RIG stock 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, VB, OIH, VXF, VBK.

RIG has underperformed the market in the last year with a price return of -14.4% while the SPY ETF gained +21.2%. However, in the short term, RIG had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.6% vs +4.3% return in SPY. But in the last 2 weeks, RIG shares have been beat by the market, returning -13.3% compared to an SPY return of -3.5%.

RIG support price is $5.39 and resistance is $5.71 (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 stock will trade within this expected range on the day.