Why These Energy Stocks are Gaining This Week

4. Transocean Ltd. (NYSE:RIG)

Share Price Gains Between Mar. 3 and Mar. 10: 11.61%

Transocean Ltd. (NYSE:RIG) is a leading international provider of offshore contract drilling services for oil and gas wells.

Shares of Transocean Ltd. (NYSE:RIG) have again surged last week after declining by over 19% the week before, reflecting its strong fundamentals in Q4 2024. The company’s revenue came in at $952 million, up 28% YoY, driven by older contracts rolling off and new ones coming online at significantly higher day rates. RIG’s EBITDA during the quarter surged to $338 million, marking a sharp 221% YoY increase from $105 million in Q4 2023. Moreover, the company remains far from financial stress and boasts a robust $8.3 billion backlog providing visibility into future cash flows.