Barclays Maintains Buy Rating for Transocean with $3.50 Price Target

Barclays maintains a Buy rating for Transocean with a $3.50 price target. Analyst Eddie Kim has a 43.75% success rate and an average return of -3.0%. The current analyst consensus is a Hold with an average price target of $3.73. Transocean's market cap is $2.25B with a P/E ratio of -2.77. The corporate insider sentiment is neutral with 30 insiders having recently sold shares.

Transocean Ltd. (NYSE: RIG), a major provider of offshore drilling services, has seen significant activity in its stock holdings and analyst ratings in recent quarters. The Teacher Retirement System of Texas has invested $380,000 in Transocean, purchasing 119,801 shares during the first quarter of 2025 [1]. This investment follows several other institutional investors who have made notable changes to their positions in Transocean, including Raymond James Financial Inc., Sequoia Financial Advisors LLC, Avantax Advisory Services Inc., Swiss National Bank, and Madison Investment Advisors LLC [1].

In addition to these institutional investments, Transocean has also seen changes in its insider activity. EVP Roderick James Mackenzie sold 22,000 shares of the stock on May 12, 2025, for a total value of $61,160.00 [1]. This sale represents a 6.06% decrease in his position. As of the transaction, insiders owned 12.27% of the stock [1].

Analyst sentiment towards Transocean has been mixed. Barclays maintains a Buy rating for Transocean with a $3.50 price target, while the current analyst consensus is a Hold with an average price target of $3.73 [1]. Analyst Eddie Kim, who has a 43.75% success rate and an average return of -3.0%, also maintains a Buy rating for the stock [1]. The corporate insider sentiment is neutral, with 30 insiders having recently sold shares [1].

Transocean's market cap stands at $2.25B, with a P/E ratio of -2.77. The company's recent earnings report, which was released on April 28, 2025, showed a negative net margin of 18.79% and a negative return on equity of 0.94% [1]. Despite these negative indicators, the company's revenue for the quarter was up 18.7% year-over-year [1].

Looking ahead, Transocean will report its second quarter 2025 earnings on August 4, 2025, followed by a teleconference on August 5, 2025 [3]. The company's recent contracts, including two extensions and two new contracts for four of its rigs, have added $199M to its backlog, bringing the total backlog to $7.2B [2]. These contracts, along with the company's strong fleet of mobile offshore drilling units, highlight its position as a leading provider of offshore contract drilling services.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-teacher-retirement-system-of-texas-invests-380000-in-transocean-ltd-nyserig-2025-07-18/
[2] https://seekingalpha.com/news/4468347-transocean-wins-four-q2-drilling-rig-deals-adding-199m-to-backlog
[3] https://www.quiverquant.com/news/Transocean+Ltd.+Schedules+Second+Quarter+2025+Earnings+Report+and+Teleconference+Details