Jim Cramer on Transocean: "It's Not My Favorite"

Transocean Ltd. (NYSE:RIG) is one of the stocks on Jim Cramer’s radar. A caller sought Cramer’s opinion on the stock, and he replied:

Alright… If it were a $60 stock instead of 6, no one would touch it. The fact is that it can go higher, but I do know it’s got a lot of debt. It’s not my favorite. My favorite is Halliburton, and my second favorite is SLB.

Transocean Ltd. (NYSE:RIG) focuses on offshore drilling for oil and gas and provides high-tech rigs and specialized crews to operate in deepwater and harsh environments. In January 2025, Cramer showed a bearish sentiment toward the stock as he said:

I do not dig RIG. No, no, no. I do not dig RIG, and I’ll tell you why, because if I don’t like SLB, there’s no way I can like RIG because they’re not nearly as good as SLB. So I’m gonna take a serious big-time size pass on your stock.

It is worth noting that since the above comment was aired, the company’s stock has gained around 50%.

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