Transocean Ltd. (NYSE: RIG) and Ocean Rig UDW Inc. (Ocean Rig) (NASDAQ: ORIG) announced today that they have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rigs net debt. Like the P/E ratio, a lower number is considered better. Export data to Excel for your own analysis. By adding our high-specification floaters to Transocean's industry-leading fleet, the combined company will have the offshore industrys largest and most technically capable fleet of ultra-deepwater and harsh environment floaters. Transocean ( NYSE: RIG) released its fleet status on April 28, 2021. 8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Transocean in the last year. Transocean wins rig contract with TotalEnergies for work offshore Suriname Published 14 October 2022 19:55 GMT Rigs and Vessels Norway: Wintershall and OMV charter rig for minimum $437 million. Value investors will typically look for stocks with P/E ratios under 20, while growth investors and momentum investors are often willing to pay much more. Many other growth items are considered as well. Sandro Thoma Transocean Ltd. . In many ways, the market's action of repricing the offshore . Transocean intends to fund the cash portion of the transaction consideration through a combination of cash on hand and fully committed financing provided by Citi. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. Net Margin is defined as net income divided by sales. With 12 weeks representing a meaningful part of a year, this time period will show whether a stock has been enjoying strong investor demand, or if it's in consolidation, or distress. Debt to Equity (or D/E ratio) is total liabilities divided by total shareholder equity. Like the earnings yield, which shows the anticipated yield (or return) on a stock based on the earnings and the price paid, the cash yield does the same, but with cash being the numerator instead of earnings. But, typically, an aggressive growth trader will be interested in the higher growth rates. Debt to Capital (or D/C ratio) is the fraction of debt (including mortgages and long-term leases) to long-term capitalization. As a point of reference, over the last 10 years, the median sales growth for the stocks in the S&P 500 was 14%. Transocean Inc. and GlobalSantaFe Corporation said that their boards of directors have unanimously approved a definitive agreement for a merger of equals. Grand Cayman, Cayman. The Momentum Scorecard table also displays the values for its respective Industry along with the values and Momentum Score of its three closest peers. Please log in to your account or sign up in order to add this asset to your watchlist. NASDAQ data is at least 15 minutes delayed. Zacks Premium - The way to access to the Zacks Rank. Some investors seek out stocks with the best percentage price change over the last 52 weeks, expecting that momentum to continue. de C.V., GlobalSantaFe Techserv (North Sea) Limited, GlobalSantaFe U.S. Holdings Inc., Indigo Drilling Limited, Inteliwell JV GP Limited, Inteliwell JV LP, Kalambo Operations Inc., OCR Falklands Drilling Inc., OR Norge Operations Inc., Ocean Rig, Ocean Rig 1 Inc, Ocean Rig 2 Inc., Ocean Rig Canada Inc., Ocean Rig Cuanza Operations Inc., Ocean Rig Cubango Operations Inc., Ocean Rig Deepwater Drilling Limited, Ocean Rig Investments Inc., Ocean Rig Management Inc., Ocean Rig Operations Inc., Ocean Rig UDW Inc., Ocean Rig UDW LLC, Offshore Ghana Transocean Limited, Offshore Rig Operations AS, Olympia Rig Angola Holding S.A., Olympia Rig Angola Limitada, Orion Holdings (Cayman) Limited, Orion RigCo (Cayman) Limited, P.T. The X Industry (aka Expanded Industry) is a subset of the M (Medium Sized) Industry, which is a subset of the larger Sector category, which is used to classify all of the stocks in the Zacks Universe. The VGM Score are a complementary set of indicators to use alongside the Zacks Rank. Ideally, an investor would like to see a positive EPS change percentage in all periods, i.e., 1 week, 4 weeks, and 12 weeks. The cause of this is impossible to tell Transocean will pay approximately $2 . 7:58 PM ET. And, of course, the 4 week change helps put the 1 week change into context. Current Cash Flow Growth measures the percent change in the year over year Cash Flow. For example, a company with a P/E ratio of 25 and a growth rate of 20% would have a PEG ratio of 1.25 (25 / 20 = 1.25). Cash flow itself is an important item on the income statement. Transocean has received a consensus rating of Buy. Within the VGM Score, stocks are graded into five groups: A, B, C, D and F. As you might remember from your school days, an A is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F. As an investor, you want to buy srocks with the highest probability of success. Should I buy or sell Transocean stock right now? [RIG] completed the reclassification of its stock and the merger transaction with GlobalSantaFe Corporation [GSF] In case of mergers, some states required a unanimous vote of shareholders However, since the company's 2007 merger with GlobalSantaFe, Transocean's reputation has suffered considerably, according to EnergyPoint Research, an independent oil service . Santa Fe Supraco Indonesia, PT. The company's average rating score is 2.50, and is based on 4 buy ratings, 4 hold ratings, and no sell ratings. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. As they say, 'price follows volume'. It serves integrated energy companies, government-owned or government-controlled oil companies, and other independent energy companies. It measures a company's ability to pay short-term obligations. According to analysts' consensus price target of $5.91, Transocean has a forecasted downside of 21.3% from its current price of $7.51. The 1 Week Price Change displays the percentage price change over the last 5 trading days using the most recently completed close to the close from 5 days before. View which stocks are hot on social media with MarketBeat's trending stocks report. It is used to help gauge a company's financial health. The Fly team scours all sources of company news, from mainstream to cutting edge,then filters out the noise to deliver shortform stories consisting of only market moving content. View RIG analyst ratings or view top-rated stocks. In general, the lower the ratio is the better. Transocean (RIG) is a Great Momentum Stock: Should You Buy? Tuesday's additional top analyst upgrades and downgrades were on Anheuser-Busch InBev, Citigroup, Discover Financial Services, Edison International, Goldman Sachs, Morgan Stanley, NextEra Energy, Tuesday's additional top analyst upgrades and downgrades included Cracker Barrel, Farfetch, Intel, Kodiak Sciences, Pinterest, Snowflake, Teladoc and more. In general, a lower number or multiple is usually considered better that a higher one. There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. Projected EPS Growth looks at the estimated growth rate for one year. A D/E ratio of 1 means its debt is equivalent to its common equity. This is the Air Japan corporate website, where you can view Corporate Information, Flight Routes, Safety/Flight Information, and CSR Information, etc Cause: In accordance with the terms of the merger agreement, each outstanding ordinary share of Transocean immediately prior to the effective time of the merger was reclassified into (1) 0 BP and Transocean . One of the reasons some investors prefer the P/S ratio over other metrics like the P/E ratio is because sales are harder to manipulate on an income statement than earnings. The monthly returns are then compounded to arrive at the annual return. Seward & Kissel LLP is acting as legal advisor to Ocean Rig with respect to U.S. law. The Momentum Scorecard focuses on price and earnings momentum and indicates when the timing is right to enter a stock. A ratio of 2 means its assets are twice that of its liabilities. The two drillers in September entered into a definitive merger agreement under which Transocean was to acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig's net debt, subject to, subject to the approval of both Transocean and Ocean Rig shareholders and the satisfaction of customary The Daily Price Change displays the day's percentage price change using the most recently completed close. The 52 week price change is a good reference point. For example, a P/S ratio of 0.5 means you're paying 50 cents for every $1 of sales the company makes. Also, consistent with the Companys strategy of recycling less competitive rigs, Transocean will retire two of its floaters, the ultra-deepwater drillship C.R. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. Jan 7, 2021. Our testing substantiates this with the optimum range for price performance between 0-20. Citi is acting as exclusive financial advisor to Transocean, and King & Spalding LLP is acting as legal advisor to Transocean with respect to U.S. law. If a stock's Q1 estimate revision decreases leading up to its earnings release, that's usually a negative sign, whereas an increase is typically a positive sign. Search: Csx Merger Rumors. A P/B of 1 means it's selling at its per share book value. de C.V., GlobalSantaFe Drilling Operations Inc., GlobalSantaFe Drilling Services (North Sea) Limited, GlobalSantaFe Drilling Trinidad LLC, GlobalSantaFe Drilling Venezuela C.A., GlobalSantaFe Financial Services (Luxembourg) S.a.r.l., GlobalSantaFe Group Financing Limited Liability Company, GlobalSantaFe Holding Company (North Sea) Limited, GlobalSantaFe Hungary Services Limited Liability Company, GlobalSantaFe International Drilling Corporation, GlobalSantaFe International Drilling Inc., GlobalSantaFe International Services Inc., GlobalSantaFe Nederland B.V., GlobalSantaFe Offshore Services Inc., GlobalSantaFe Operations (Mexico) LLC, GlobalSantaFe Saudi Arabia Ltd., GlobalSantaFe Services (BVI) Inc., GlobalSantaFe Services Netherlands B.V., GlobalSantaFe Servicios de Venezuela C.A., GlobalSantaFe South America LLC, GlobalSantaFe Tampico S. de R.L. Copyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. What other stocks do shareholders of Transocean own? Zacks Rank Education - Learn about the Zacks Rank, Zacks Rank Home - Zacks Rank resources in one place, Zacks Premium - The only way to fully access the Zacks Rank. Sign in to your free account to enjoy all that MarketBeat has to offer. What is Jeremy D. Thigpen's approval rating as Transocean's CEO? The analyst urged Transocean to use the current market crisis to address these issues with its customers. de C.V., TILAM Holdings Limited, TRM Holdings Limited, TSSA - Servicos de Apoio Lda., Transocean Africa Drilling Limited, Transocean Asia Services Sdn Bhd, Transocean Asset Holdings 1 Limited, Transocean Asset Holdings 2 Limited, Transocean Asset Holdings 3 Limited, Transocean Atlas Limited, Transocean Barents ASA, Transocean Brasil Ltda., Transocean Britannia Limited, Transocean Canada Drilling Services Ltd., Transocean Conqueror Limited, Transocean Conqueror Opco LLC, Transocean Corporate Services Limited, Transocean Cyprus Capital Management Public Limited, Transocean Cyprus Drilling Operations Public Limited, Transocean Deepwater Drilling Services Limited, Transocean Deepwater Holdings Limited, Transocean Deepwater Inc., Transocean Deepwater Mauritius, Transocean Deepwater Nautilus Limited, Transocean Deepwater Seafarer Services Limited, Transocean Discoverer 534 LLC, Transocean Drilling Enterprises S.a.r.l., Transocean Drilling Israel Ltd., Transocean Drilling Limited, Transocean Drilling Namibia Inc., Transocean Drilling Offshore S.a.r.l., Transocean Drilling Sdn. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Search: Csx Merger Rumors. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Traditionally, investors would look at the stock with the lower P/E and deem it a bargain. Transocean anticipates re-ranking the combined fleet, which may result in additional rigs being recycled. Announces Pricing of $525 Million of Secured Notes Due 2028, Transocean Ltd. For example, a regional bank would be classified in the Finance Sector. There are 17 Sectors, 60 different M Industries, and 265 X Industries. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The Cash/Price ratio is calculated as cash and marketable securities per share divided by the stock price. The 1 week price change reflects the collective buying and selling sentiment over the short-term. Moreover, when comparing stocks in different industries, it can become even more important to look at the relative measures, since different stocks in different industries have different values that are considered normal. Explaining the rationale for the transaction, Transocean in September said the deal would increase "Transocean's . 8 brokerages have issued 12 month target prices for Transocean's shares. This is useful for obvious reasons, but can also put the current day's intraday gains into better context by knowing if the recently completed trading day was up or down. A higher number is better than a lower number. This shows the percentage of profit a company earns on its sales. Transocean Inc. 36C Dr. Roy's Drive, Bermuda. International Mexico S. de R.L. Date of report (date of earliest event reported): February 15, 2023 . To learn more, click here. Shares of JetBlue Airways ( JBLU -1.48%) surged by more than 5% in early trading on speculation that perhaps it could be the next . Enterprise Value (EV) is Market Capitalization + Debt - Cash. Transocean is an existing investor in Nauticus Robotics and is investing in the PIPE. Top institutional shareholders include Contrarius Investment Management Ltd (4.30%), Van ECK Associates Corp (3.48%), Morgan Stanley (2.54%), Dimensional Fund Advisors LP (2.32%), Two Sigma Investments LP (2.05%) and Two Sigma Advisers LP (1.91%). The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. In-depth profiles and analysis for 20,000 public companies. Above 1 means it assets are greater than its liabilities. (1) Per Transoceans internal rig ranking model. (844) 978-6257. On average, they anticipate the company's stock price to reach $5.91 in the next year. Delayed quotes by FIS. Bobby Willig, Meg Guerin-Calvert, Jay Ezrielev, David Fenichel and a Compass Lexecon team were retained by counsel for the parties to assist in an economic analysis of the merger of Transocean and GlobalSantaFe, two large oil and gas contractors. Conventional wisdom also has it that if the yield on the stock market (S&P 500 for example) is lower that the yield on the 10 Yr., then stocks would be considered overvalued. Cash flow can be found on the cash flow statement. How were Transocean's earnings last quarter? Their RIG share price forecasts range from $3.30 to $10.00. The Price to Cash Flow ratio or P/CF is price divided by its cash flow per share. An industry with a larger percentage of Zacks Rank #1's and #2's will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4's and #5's. When comparing this ratio to different stocks in different industries, take note that some businesses are more capital intensive than others. Zacks Style Scores Education - Learn more about the Zacks Style Scores. the Securities Exchange Act of 1934. With this unparalleled fleet, the offshore drilling industrys largest and most profitable backlog totaling $12.5 billion, and approximately $3.7 billion in liquidity, we are well-equipped for the market recovery., Pankaj Khanna, President and Chief Executive Officer of Ocean Rig UDW Inc. commented: "This strategic combination of Ocean Rig and Transocean creates a world-class fleet perfectly positioned for the market recovery while reducing fragmentation that currently exists in offshore drilling. It was another weak fleet status with an added backlog below $100 million, showing that the offshore drilling industry has not. It also enables us to reduce our cost per active rig, as we believe that we can efficiently merge the Ocean Rig operations into our existing structure with limited incremental shore-based expense. Theme Leveraged Finance & High Yield Bonds backing Transocean Ltd. surged across the stack today after the offshore drilling company said it had moved to resolve allegations that its efforts to stave off a bankruptcy filing had led it to default on $543 million of senior notes. Real time prices by BATS. That does not mean that all companies with large growth rates will have a favorable Growth Score. The 12 Week Price Change displays the percentage price change over the most recently completed 12 weeks (60 days). Regardless of the many ways investors use this item, whether looking at a stock's price change, an index's return, or a portfolio manager's performance, this time-frame is a common judging metric in the financial industry. It's another great way to determine whether a company is undervalued or overvalued with the denominator being cash flow. The two drillers in September entered into a definitive merger agreement under which Transocean was to acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig's net debt. contact@marketbeat.com In the past three months, Transocean insiders have sold more of their company's stock than they have bought. Within each Score, stocks are graded into five groups: A, B, C, D and F. As you might remember from your school days, an A, is better than a B; a B is better than a C; a C is better than a D; and a D is better than an F. As an investor, you want to buy stocks with the highest probability of success. Conversely, if the yield on stocks is higher than the 10 Yr., then stocks would be considered undervalued. TransOcean 2: Rivals - Update 1.2 available. Nabors Offshore - $3.05bn Founded in 1952, Nabors Offshore is a company that owns and operates one of the world's largest land-based drilling rig fleets. Since cash can't be manipulated like earnings can, it's a preferred metric for analysts. It's typically categorized as a valuation metric and is most often quoted as Cash Flow per Share and as a Price to Cash flow ratio. See rankings and related performance below. Bhd., Songa Offshore Management Limited, Songa Offshore Pte. -0.02 (-0.27%) A high percentage of insider ownership can be a sign of company health. A 'good' number would usually fall within the range of 1.5 to 3. Transocean stock traded at $4.52 ahead of earnings, but Tuesday's reaction took shares down to $4.41, and on Wednesday they were down another 1.2% to $4.37. The (F1) EPS Estimate Monthly Change calculates the percentage change in the consensus earnings estimate for the current year (F1) over the last 4 weeks. FORM 8-K. CURRENT REPORT. Transocean was founded in 1926 and is based in Steinhausen, Switzerland. Transocean (RIG) expects $2.9-$3 billion revenues in 2023, based on 96.5% revenue efficiency. The longer-term perspective helps smooth out short-term events. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. It's packed with all of the company's key stats and salient decision making information. Close Menu. Transocean does not currently pay a dividend. On 11/27/07, Transocean Inc. [RIG] completed the reclassification of its stock and the merger transaction with GlobalSantaFe Corporation [GSF]. mesurer votre utilisation de nos sites et applications. A change in margin can reflect either a change in business conditions, or a company's cost controls, or both. ZacksTrade and Zacks.com are separate companies. Multichannel News covers the cable television and telecommunications business focusing on finance, technology, broadband, and government activities for the worldwide multichannel industries. In this case, it's the cash flow growth that's being looked at. If a company's net margin is 15%, for example, that means its net income (or profit) is 15 cents for every $1 of sales the company makes. Accordingly, the company's. Technical analysis trends TRANSOCEAN LTD. Technical analysis Income Statement Evolution More Financials Consensus Consensus EPS Revisions More Estimates Revisions Managers and Directors More about the company Sector and Competitors More Results But they all have their place in the Growth style. below): Written communications pursuant to Rule 425 under . A P/B of 2 means it's selling at 2 times its book value. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Get daily stock ideas from top-performing Wall Street analysts. Transocean started at buy with $7.50 stock price target at Benchmark Jan. 19, 2023 at 6:30 a.m. Enterprise Value / Earnings Before Interest, Taxes, Depreciation and Amortization is a valuation metric used to measure a company's value and is helpful in comparing one stock to another. The official website for the company is www.deepwater.com.