Barclays Maintains a Buy on Transocean Ltd. (RIG) With a $3.50 PT

Transocean Ltd. (NYSE:RIG) is one of the most oversold energy stocks to buy right now. In a report released on July 18, Eddie Kim from Barclays maintained a Buy rating on Transocean Ltd. (NYSE:RIG) with a price target of $3.50.

Transocean Ltd. (RIG) Up 9.5% Ahead of Q2 Earnings

An aerial view of an oil rig with drillers in hard hats working on the platform.

Transocean Ltd. reported $14 million, $0.01 per diluted share, in its fiscal Q1 2025 results for unfavorable discrete tax items, net. Adjusted net loss for the quarter was $65 million, or loss of $0.10 per diluted share, after consideration of these discrete items.

Transocean Ltd. provides offshore contract drilling services for oil and gas wells. The company also owns and operates offshore drilling fleets such as ultra-deepwater, deepwater, harsh environment, and midwater rigs.

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This article is originally published at Insider Monkey.