Zacks Research Has Optimistic View of Transocean Q2 Earnings

Posted by Geri Gentry on Jul 2nd, 2026

Transocean Ltd. (NYSE:RIG – Free Report) – Investment analysts at Zacks Research upped their Q2 2028 earnings estimates for Transocean in a research report issued to clients and investors on Monday, June 29th. Zacks Research analyst Team now forecasts that the offshore drilling services provider will earn $0.02 per share for the quarter, up from their previous forecast of $0.01. The consensus estimate for Transocean’s current full-year earnings is $0.16 per share.

Transocean (NYSE:RIG – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The offshore drilling services provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Transocean had a positive return on equity of 0.88% and a negative net margin of 66.79%.The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year.

Several other research analysts have also issued reports on the company. Barclays upgraded Transocean from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $6.00 to $8.00 in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a report on Tuesday, April 21st. Morgan Stanley upped their target price on Transocean from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Susquehanna increased their target price on Transocean from $7.50 to $8.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Finally, Clarkson Capital downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 19th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.96.

View Our Latest Report on RIG

Transocean Price Performance

Shares of NYSE RIG opened at $4.84 on Thursday. The firm has a market capitalization of $5.41 billion, a P/E ratio of -1.63 and a beta of 1.28. The firm’s 50-day moving average price is $6.15 and its 200-day moving average price is $5.72. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. Transocean has a 1-year low of $2.53 and a 1-year high of $7.66.

Hedge Funds Weigh In On Transocean

Several large investors have recently added to or reduced their stakes in RIG. Vanguard Group Inc. boosted its stake in Transocean by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 97,006,263 shares of the offshore drilling services provider’s stock valued at $400,636,000 after purchasing an additional 2,487,015 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Transocean by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 48,819,576 shares of the offshore drilling services provider’s stock valued at $323,682,000 after purchasing an additional 5,349,264 shares in the last quarter. Dalal Street LLC lifted its holdings in shares of Transocean by 10.6% in the fourth quarter. Dalal Street LLC now owns 27,040,133 shares of the offshore drilling services provider’s stock valued at $111,676,000 after purchasing an additional 2,597,801 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Transocean by 12.8% during the third quarter. American Century Companies Inc. now owns 26,456,554 shares of the offshore drilling services provider’s stock valued at $82,544,000 after buying an additional 3,006,786 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Transocean by 9.4% during the fourth quarter. Morgan Stanley now owns 24,790,325 shares of the offshore drilling services provider’s stock worth $102,384,000 after buying an additional 2,135,964 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Trending Headlines about Transocean

Here are the key news stories impacting Transocean this week:

Positive Sentiment: Transocean announced a conditional agreement with Equinor for three harsh-environment semisubmersible rigs on the Norwegian shelf, adding more than $1 billion to backlog over seven rig-years and boosting revenue visibility from 2027. Transocean Ltd. Announces Agreement with Equinor Valued at Over $1 Billion
Positive Sentiment: The Equinor deal was also described as a $1 billion-plus three-rig contract, with a base day rate of $399,000 and an effective rate expected to exceed $400,000 at commencement, reinforcing strong pricing power in Transocean’s offshore drilling fleet. Transocean Ltd. Announces Agreement with Equinor Valued at Over $1 Billion
Positive Sentiment: Zacks Research raised some later-period earnings estimates, including FY2027 and FY2028, suggesting analysts see improving profitability over time for Transocean. Transocean research coverage
Neutral Sentiment: Transocean was highlighted in a “most buzzing stocks” roundup, which may reflect increased market attention but does not itself change fundamentals. 5 Most Buzzing Stocks to Buy Right Now
Negative Sentiment: Some Zacks Research updates reduced near-term EPS estimates for FY2026 and Q2/Q4 2026, signaling that Transocean still faces soft short-term earnings expectations despite the backlog boost. Transocean research coverage

Transocean Company Profile

(Get Free Report)

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.