|Bid||0.0000 x 42300|
|Ask||0.0000 x 45100|
|Day's range||1.8400 - 1.9250|
|52-week range||0.7600 - 7.2800|
|Beta (5Y monthly)||2.45|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||21 Aug 2015|
|1y target est||N/A|
Investors need to pay close attention to Transocean (RIG) stock based on the movements in the options market lately.
Shares of Transocean (NYSE: RIG) rebounded 37.6% in June, according to data provided by S&P Global Market Intelligence. Fueling the offshore drilling stock's rebound was big news in the oil market last month. Shares of most oil stocks, including Transocean, skyrocketed in early June, with its shares more than doubling at one point after OPEC extended its historic production reduction agreement through the end of July.
The oil industry has been flipped on its head over the last few months as economic shutdowns around the world have caused demand to plummet by around 20%. For a short time, oil futures prices even went negative in the U.S. because there was more supply than demand. Producers and suppliers in the oil market are trying to cut costs and adjust finances as quickly as possible, but not everyone will survive.
At the time, onshore oil was steadily getting harder to find and more expensive to extract. Shale oil was getting started, but pulling oil out of those tight formations was very expensive and required constant drilling of new wells since output declined quickly.
The offshore drilling industry continues to take an absolute beating. On May 13, shares that make up nearly the entire sector fell by double digits on a combination of bad news on the oil inventory front, and a speech from U.S. Federal Reserve chairman Jerome Powell that spooked the entire stock market. As of 1:16 p.m. EDT, shares of Valaris PLC (NYSE: VAL), Noble Corp. (NYSE: NE), Borr Drilling (NYSE: BORR), and Transocean (NYSE: RIG) were all down between 9% and 15%.
Shares of offshore drilling specialist Transocean (NYSE: RIG), midstream operator Targa Resources (NYSE: TRGP), and oil and gas producer Ovintiv (NYSE: OVV) spent a large part of trading on May 12 up more than 10%. Transocean shares finished trading up 13.5%, while Targa and Ovintiv shares closed up around 8%. The last big news for any of the three came last week, when Targa Resources reported on May 7, reporting solid results and a big increase in adjusted EBITDA, helping reassure investors after having gutted its dividend earlier this year.
Transocean's (RIG) Ultra-deepwater floaters contribute to 59.6% of total contract drilling revenues while Harsh Environment floaters and Midwater floaters account for the remainder.
It's shaping up to be a tough period for Transocean Ltd. (NYSE:RIG), which a week ago released some disappointing...
At this time, I would like to turn the conference over to Mr. Brad Alexander, Vice President of Investor Relations. Joining me on this morning's call are Jeremy Thigpen, President and Chief Executive Officer; Mark Mey, Executive Vice President and Chief Financial Officer; and Roddie MacKenzie, Senior Vice President of Marketing and Contracts.
We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are...
Potential Transocean Ltd. (NYSE:RIG) shareholders may wish to note that the Independent Chairman of the Board...
Transocean (RIG) predicts fourth-quarter adjusted contract drilling revenues to be nearly $825 million, hinting at an improvement from the year-ago reported figure of $748 million.
ExxonMobil (XOM), Shell (RDS.A) and Chevron (CVX) reported significant earnings decline compared to the same period a year earlier.
Domestic oil drillers may again remove rigs since explorers have decided to curb spending on the drilling of new wells for the second straight year in 2020.
Domestic drillers may again remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on drilling new wells.
Apache (APA) shares rocket following a discovery offshore Suriname block 58. BP plc (BP) agrees to divest certain North Sea assets for $625 million.
Domestic drillers may continue to remove rigs since explorers have a conservative capital budget in place and have decided to curb spending on the drilling of new wells.