RIG.N Hits 5-Day Low Amid Contract Wins
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 20 Nov 25
Source: Benzinga
Shares of RIG.N declined today, hitting a 5-day low as investors reacted to mixed signals from recent contract announcements. Despite securing approximately $89 million in firm contract backlog, including a 90-day extension with Petrobras worth $33 million, the stock faced downward pressure. The technical breakdown suggests increased bearish momentum, potentially reflecting investor concerns over market conditions. Additionally, contracts in Norway and Romania, while positive, may not have been enough to offset the overall sentiment in the market.
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.
