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. (NYSE:RIG) 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. (NYSE:RIG) 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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Disclosure: None. This article is originally published at Insider Monkey.