Transocean Ltd (RIG) Stock Falls on Q1 2026 Earnings

Transocean Ltd (RIG) reported first-quarter 2026 revenue of $1.08 billion, up 19.3% year‑over‑year and above the consensus revenue estimate of $1.04 billion.

Gross profit rose to $475 million, up 64.9% year‑over‑year.

Operating profit improved to $287 million, a gain of 348.4% versus the prior year.

Net income attributable to common shareholders was $71 million, down 189.9% year‑over‑year.

Diluted earnings per share came in at $0.06, versus an estimate of $0.076.

Cash from operating activities strengthened to $164 million, up 530.8% year‑over‑year.

Balance sheet and cash items:

Cash and cash equivalents totaled $330 million, an increase of 25.5% year‑over‑year.

Total liabilities declined to $6.96 billion, down 21.0% year‑over‑year.

Purchases of property, plant and equipment were $(28 million), down 53.3% year‑over‑year.

Cost of sales was $606 million, roughly flat year‑over‑year (down 1.9%).

Market and outlook notes: the quarter beat on revenue but missed on reported EPS, and the stock showed a modest move after hours, down 1.89% since market close.

Overall, Transocean Ltd (RIG) showed stronger operating and cash-generation metrics in the quarter while net income and EPS moved lower year‑over‑year, reflecting a mixed but materially improved operating performance.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Transocean Ltd Insider Trading Activity

Transocean Ltd insiders have traded $RIG stock on the open market 13 times in the past 6 months. Of those trades, 3 have been purchases and 10 have been sales.

Here’s a breakdown of recent trading of $RIG stock by insiders over the last 6 months:

PERESTROIKA purchased 1,500,000 shares for an estimated $6,029,999
FREDERIK WILHELM MOHN purchased 1,500,000 shares for an estimated $6,029,999
(CYPRUS) LTD PERESTROIKA purchased 1,500,000 shares for an estimated $6,029,999
JEREMY D THIGPEN (Executive Chair) sold 500,000 shares for an estimated $2,160,000
KEELAN ADAMSON (PRESIDENT AND CEO) has made 0 purchases and 4 sales selling 147,970 shares for an estimated $706,631.
RODERICK JAMES MACKENZIE (EVP, Chief Commercial Officer) has made 0 purchases and 2 sales selling 113,370 shares for an estimated $655,233.
BRADY K LONG (EVP & Chief Legal Officer) has made 0 purchases and 2 sales selling 115,378 shares for an estimated $576,890.
ROBERT THADDEUS VAYDA (EVP, Chief Financial Officer) sold 30,000 shares for an estimated $128,700

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

Transocean Ltd Hedge Fund Activity

We have seen 260 institutional investors add shares of Transocean Ltd stock to their portfolio, and 202 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

GHISALLO CAPITAL MANAGEMENT LLC removed 18,500,000 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $76,405,000
D. E. SHAW & CO., INC. added 13,606,705 shares (+482.8%) to their portfolio in Q4 2025, for an estimated $56,195,691
BANK OF AMERICA CORP /DE/ added 11,968,426 shares (+338.5%) to their portfolio in Q4 2025, for an estimated $49,429,599
YAUPON CAPITAL MANAGEMENT LP removed 8,250,000 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $34,072,500
BARCLAYS PLC added 7,535,041 shares (+230.6%) to their portfolio in Q4 2025, for an estimated $31,119,719
DIMENSIONAL FUND ADVISORS LP added 7,516,589 shares (+20.9%) to their portfolio in Q4 2025, for an estimated $31,043,512
RENAISSANCE TECHNOLOGIES LLC added 7,287,083 shares (+416.8%) to their portfolio in Q4 2025, for an estimated $30,095,652

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

Transocean Ltd Analyst Ratings

Wall Street analysts have issued reports on $RIG in the last several months. We have seen 0 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Underweight" rating on 12/10/2025

To track analyst ratings and price targets for Transocean Ltd, check out Quiver Quantitative's $RIG forecast page.

Transocean Ltd Price Targets

Multiple analysts have issued price targets for $RIG recently. We have seen 5 analysts offer price targets for $RIG in the last 6 months, with a median target of $7.0.

Here are some recent targets:

Daniel Kutz from Morgan Stanley set a target price of $7.0 on 04/15/2026
Charles Minervino from Susquehanna set a target price of $8.0 on 04/07/2026
Eddie Kim from Barclays set a target price of $6.0 on 02/18/2026
Gregory Lewis from BTIG set a target price of $10.0 on 02/09/2026
Scott Gruber from Citigroup set a target price of $4.5 on 12/11/2025