Ninepoint Partners Invests in Transocean
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 26 Nov 25
Source: Yahoo Finance
Ninepoint Partners LP has acquired 6,000,000 shares of Transocean Ltd, valued at approximately $18.7 million. This new position represents 2.6% of its reportable assets under management.
Despite this acquisition, Transocean's stock has underperformed the S&P 500 over the past three years, with a total return of -1% compared to the S&P's 74% return. However, the recent investment may signal renewed interest in the company.
Transocean has improved its financial health by reducing net debt from $6.9 billion to under $5.0 billion and recently reported third-quarter earnings that exceeded analyst expectations. Investors are advised to remain cautious due to the company's inconsistent profitability since 2016.
Analyst Views on RIG
Wall Street analysts forecast RIG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIG is 4.25 USD with a low forecast of 3.00 USD and a high forecast of 5.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
2 Buy
3 Hold
2 Sell
Hold
Current: 4.960
Low
3.00
Averages
4.25
High
5.00
Current: 4.960
Low
3.00
Averages
4.25
High
5.00
About RIG
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company's primary business is to contract its drilling rigs, related equipment and work crews on a dayrate basis to drill oil and gas wells. As of February 9, 2017, it owned or had partial ownership interests in and operated 56 mobile offshore drilling units. As of February 9, 2017, its fleet consisted of 30 floaters, seven harsh environment floaters, three deepwater floaters, six midwater floaters and 10 high-specification jackups. As February 9, 2017, it also had four ultra-deepwater drillships and five high-specification jackups under construction or under contract to be constructed. Its contract drilling services operations are spread across oil and gas exploration and development areas throughout the world. The Company's drilling fleet can be characterized as floaters, including drillships and semisubmersibles, and jackups.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
