New insider activity at Transocean ( (RIG) ) has taken place on June 16, 2025.
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Roderick James Mackenzie, the Executive Vice President and Chief Commercial Officer of Transocean, has recently sold 40,000 shares of the company’s stock, amounting to a total transaction value of $130,400.
Recent Updates on RIG stock
In recent developments, Transocean announced the exercise of a two-well option for the Transocean Spitsbergen in Norway, expected to add approximately $100 million to its backlog starting in the first quarter of 2026. Additionally, the company plans to dispose of certain drilling rigs, resulting in an anticipated non-cash charge of $1.1 billion to $1.2 billion due to asset impairment. These strategic decisions are part of Transocean’s efforts to manage its financial challenges, including persistent net losses and declining revenues, despite strong gross margins. Analysts have adjusted their price targets in response to these developments, reflecting mixed sentiments about the company’s financial performance and future prospects.
Spark’s Take on RIG Stock
According to Spark, TipRanks’ AI Analyst, RIG is a Neutral.
Transocean’s stock score reflects a mixed outlook. Strong technical momentum and a positive earnings call are offset by profitability challenges and valuation concerns. The company’s robust backlog and cost-saving initiatives are positive, but ongoing net losses and asset impairments pose risks.
To see Spark’s full report on RIG stock, click here.
More about Transocean
YTD Price Performance: -15.95%
Average Trading Volume: 42,803,963
Technical Sentiment Signal: Sell
Current Market Cap: $2.93B