Transocean (RIG) reported second-quarter 2026 contract drilling revenues of $966 million and net income of $170 million, or $0.04 per diluted share. Basic earnings per share were $0.15.
The offshore drilling company reported revenue efficiency of 97.0%, net cash provided by operating activities of $236 million and free cash flow of $212 million. Transocean said it ended the period with total liquidity of more than $1.3 billion.
- Quarter ended June 30, 2026
- Contract drilling revenues $966 million, down from $1.081 billion in the first quarter of 2026
- Net income $170 million, compared with $71 million in the prior quarter
- Revenue efficiency 97.0%
- Backlog additions $292 million at a weighted average dayrate of about $461,000
- Total backlog Approximately $6.7 billion as of August 5, 2026, excluding $1.0 billion tied to the Equinor agreement pending approvals
- 2026 outlook Full-year contract drilling revenue guidance of $3.9 billion to $3.975 billion
$RIG Insider Trading Activity
$RIG insiders have traded $RIG stock on the open market 3 times in the past 6 months. Of those trades, 1 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $RIG stock by insiders over the last 6 months:
- BRADY K LONG (EVP & Chief Legal Officer) sold 81,741 shares for an estimated $608,970
- RODERICK JAMES MACKENZIE (EVP, Chief Commercial Officer) sold 78,370 shares for an estimated $498,433
- CHAD C DEATON purchased 35,000 shares for an estimated $173,250
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 insider transaction endpoint.
$RIG Hedge Fund Activity
We have seen 261 institutional investors add shares of $RIG stock to their portfolio, and 202 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SLATE PATH CAPITAL LP added 30,062,100 shares (+inf%) to their portfolio in Q1 2026, for an estimated $199,311,723
- TWO SIGMA INVESTMENTS, LP added 22,227,817 shares (+91.7%) to their portfolio in Q1 2026, for an estimated $147,370,426
- VOLORIDGE INVESTMENT MANAGEMENT, LLC added 16,542,717 shares (+inf%) to their portfolio in Q1 2026, for an estimated $109,678,213
- MARSHALL WACE, LLP added 16,005,764 shares (+42120.4%) to their portfolio in Q1 2026, for an estimated $106,118,215
- ELLIOTT INVESTMENT MANAGEMENT L.P. added 15,626,834 shares (+inf%) to their portfolio in Q1 2026, for an estimated $103,605,909
- CAPITAL WORLD INVESTORS added 13,909,743 shares (+88.8%) to their portfolio in Q1 2026, for an estimated $92,221,596
- FIL LTD added 11,221,566 shares (+58296.9%) to their portfolio in Q1 2026, for an estimated $74,398,982
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 13F endpoint.
