Transocean (RIG)
Operates ultra-deepwater drillships and harsh-environment semisubmersibles for offshore oil and gas wells.
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Provides offshore contract drilling for oil and gas operators, earning dayrates by supplying mobile rigs, equipment, and crews. A single operating segment centers on ultra-deepwater drillships and harsh-environment semisubmersibles, with results tied to contract demand, utilization, and operating performance.
Provides offshore contract drilling through a single operating segment, supplying ultra-deepwater drillships and harsh-environment semisubmersibles, related equipment, and crews to oil and gas operators. The fleet supports exploration and development wells in technically demanding basins worldwide, with activity across the Americas, West Africa, India, and the Norwegian North Sea.
High-specification floaters, dynamic-positioning systems, and dual-activity drilling capabilities support long-duration work far from port and in rough conditions. Revenue depends on contract awards, dayrates, utilization, and operating performance; idle or stacked rigs can require substantial spending before returning to service. A small group of large operators contributes much of revenue. The proposed Valaris combination remains subject to shareholder and regulatory approvals.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 12, 2026 | Barclays | Reiterate | Rating: —Target: $6 | Target: $7 |
| Jul 8, 2026 | Susquehanna | Reiterate | Rating: —Target: $7.50 | Target: $7 |
| May 7, 2026 | Barclays | Upgrade | ||
| Apr 15, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $4.50 | Target: $7 |
| Feb 23, 2026 | Susquehanna | Reiterate | Rating: —Target: $5 | Target: $7.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $509.0M · Total debt $5.12B · Total assets $15.17B · Shareholders' equity $8.37B
- Revenue
- $966.0M
- Operating income
- $152.0M
- Net income
- $170.0M
No dividends on record.
| Institutions | ≈ 97.98% | 995.90M shares | |
|---|---|---|---|
| 590 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 9.63% | 97.89M shares | |
| 7 holders · as of Jul 7, 2026 | |||
| Adds to | 107.61% | ||
1.02B company shares as of Sep 16, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (1.12B in the company's Sep 22, 2026 report, 1.02B elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 107.61%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Frederik Wilhelm MohnInsiderdirector | 9.51% | 96.65M | filed May 27, 2026 |
BlackRock, Inc.Institution | 9.04% | 91.93M | as of Jun 30, 2026 |
Hayfin Management LimitedInstitution | 5.46% | 55.51M | filed Jul 9, 2024 |
Dimensional Fund Advisors LPInstitution | 5.02% | 51.01M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.85% | 49.30M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 2, 2026 | Chad C. Deaton | director | +35,000 | $4.95 |
| May 21, 2026 | Brady K. Long | officer: EVP & Chief Legal Officer | −81,741 | $7.45 |
| Mar 4, 2026 | Roderick James Mackenzie | officer: EVP, Chief Commercial Officer | −78,370 | $6.36 |
| Jan 27, 2026 | Keelan Adamson | director, officer: PRESIDENT AND CEO | −58,687 | $5.00 |
| Jan 26, 2026 | Keelan Adamson | director, officer: PRESIDENT AND CEO | −22,846 | $5.00 |
