Transocean Inc. (RIG) Buy, Sell or Hold

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Transocean Inc. (RIG)

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5.29

-0.12 (2.22%)

as of Jun 23, 2026, 8:00:00 pm Market Open.

12 watching

BUY

Recently added to some of his holdings at around these levels. The situation with this company was probably a little overblown. Doesn't think there is as much a liability risk as owning BP directly. Trading at around 5.5X next year's earnings.

DON'T BUY

Still too early to buy deep-water drillers, particularly in this case as their main business is deep water drilling. Because of the moratorium, there are idle rigs in the Gulf of Mexico. Really a trading stock right now.

BUY

Trading at 6X earnings. Because they have so much away from the Gulf and their liabilities are somewhat limited and if you can stomach the volatility in the short term, you should make money buying it under $50.

BUY

They were the operators of the rig during the Gulf spill. Could see it into the mid-$60's in 12 months. Less than 10% of their fleet operates in the Gulf. About 5% yield.

BUY

Stock is about half but earnings estimates have only come down about 16%. Going forward, the price should build back in. Have 139 rigs and only 15 are in the Gulf of Mexico and there will be a lot of demand for their rigs.

BUY

Expect they will have a higher liability on the Gulf spill that people are estimating that he thinks the stock price is already saying that. Buying it at this price makes a lot of sense. There will be continued growth in deep water drilling.

TOP PICK

Operator of the British Petroleum (BP-N) drilling rig that caused all the problems in the Gulf. Earnings estimates have come down about 15% but stock price has come down 40%. Trading at 7-8 times earnings.

TOP PICK

This is the rig that was leased by BP. Has been absolutely crushed since the well blowout. Service companies are indemnified by the oil companies, which most people don’t know. They are really down because of the drilling moratorium. If that ends after 6 months, the stock is paying 7% and trading at 4x. Risk/reward is pretty compelling.

DON'T BUY

With the explosion/oil spill, she thought that if it could be contained within a relatively short period of time, stock reaction was overblown. As time passed, there were questions about future deep water drilling so she sold her holdings.

PARTIAL BUY

All companies that had anything to do with British Petroleum and the oil spill have been oversold. When and if the oil spill is under control, there should be a good rally of all the stocks. Good time to start picking away at it.

SELL

Had a major, major break. Should have sold when it broke the 200 day moving average.

TOP PICK

Sign multiyear contracts with production companies but still moves with the commodity prices. Have 140 drilling rigs with a backlog of about 5 years of revenues. Trades at about 9X earnings and should grow 12%-14% in the near term.

TOP PICK

Drilling services to oil/gas industry. Leader in ultra deep-water space. Likes demand/supply fundamentals. $31 billion backlog on a revenue base of $11 billion. Backlog gives very strong earnings visibility. Generating more free cash flow than it can use so recently announced a dividend policy giving a 3.5% yield that should be sustainable.

PAST TOP PICK

(A Top Pick Nov 8/12. Up 32.8% excluding dividends.) Offshore drilling. Has about $40 billion backlog and about 6 years of revenue. Will probably earn about $13 this year and will be down a little bit next year along with the sector.

BUY ON WEAKNESS

This is the leader in terms of the complex semi-submersibles for deep shore applications. If you're comfortable with the currency risk, it looks like a good name to hold. Pretty much of a monopoly on the rigs and are booked years in advance. If it drops after the earnings, pick up more.

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Transocean Inc. (RIG)