Latest news with #offshore drilling
Yahoo
23-07-2025
- Business
- Yahoo
Transocean Ltd. (RIG) Up 9.5% Ahead of Q2 Earnings
We recently published . Transocean Ltd. (NYSE:RIG) is one of Tuesday's top performers. Transocean Ltd. rallied for a fourth straight day on Tuesday, adding 9.47 percent to close at $2.89 apiece as investors repositioned portfolios ahead of the release of its earnings performance for the second quarter of the year. Transocean Ltd. (NYSE:RIG) is scheduled to announce the results of its financial and operating highlights on August 4. A conference call will be held at 9 AM Eastern Time. In other news, Transocean Ltd. (NYSE:RIG) announced last week that it is working on a total contract backlog worth $7.2 billion across four offshore drilling rigs. On Tuesday, it announced the successful exchange with certain shareholders its 4-percent senior guaranteed exchangeable bonds into stocks. The notes were set to mature this year. An aerial view of an oil rig with drillers in hard hats working on the platform. Under the terms, the shareholders exchanged an aggregate principal amount of $157 million exchangeable bonds for 59 million shares with a par value of $0.10 apiece. The transaction effectively lowered Transocean Ltd.'s (NYSE:RIG) outstanding bonds to $77 million. While we acknowledge the potential of RIG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-07-2025
- Business
- Yahoo
SEB Equities Upgrades Borr Drilling (BORR) to Hold From Sell, Keeps a $1.90 PT
Borr Drilling Limited (NYSE:BORR) is one of the best affordable stocks under $5 to invest in. On July 1, SEB Equities upgraded Borr Drilling Limited (NYSE:BORR) to Hold from Sell with a $1.90 price target. Is Borr Drilling Limited (BORR) the Best Oil and Gas Penny Stock to Invest in Now? A modern offshore drilling vessel navigating the seas with equipment mounted on its decks. On July 2, Borr Drilling Limited (NYSE:BORR) made an announcement detailing the commitments it received from certain commercial banks to increase existing super senior RCF (SSRCF) to $200 million, reallocate the existing $45 million Guarantee Facility from super senior to senior secured, and add a new $35 million senior secured RCF, subject to a $100 million equity raise. Borr Drilling Limited (NYSE:BORR) also stated that it attained more favorable terms on the financial covenants in these facilities, which includes a drop in the minimum liquidity covenant. Management expects changes to the facilities, when coupled with the proposed $100 million equity raise announced by Borr Drilling Limited (NYSE:BORR), to raise the company's available liquidity by more than $200 million. This would strengthen Borr Drilling Limited's (NYSE:BORR) financial position and support its long-term strategy for the pursuit of potential value-added growth opportunities and industry consolidation. Borr Drilling Limited (NYSE:BORR) provides offshore drilling services to the oil and gas industry. It operates through Dayrate and Integrated Well Services (IWS) segments. The Dayrate segment provides rig charters and ancillary services, while the IWS segment offers integrated well services through Opex and Akal. While we acknowledge the potential of BORR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
19-07-2025
- Business
- Yahoo
Seadrill Gets Price Target Boost as Offshore Momentum Builds
Seadrill Limited (NYSE:SDRL) is one of the best oil drilling stocks according to hedge funds. On July 15, BTIG upgraded the stock, raising its price target from $28 to $33 while maintaining a Buy rating. That's a solid ~18% upside from current levels, based on offshore utilization trends and rig quality. The timing of this call aligns with Seadrill's Q1 earnings, which showed $430 million in cash, 84% fleet utilization, and a robust $2.8 billion contract backlog extending through 2028. These are the hallmarks hedge funds love in offshore drillers: strong contract visibility, steady cash flow, and asset quality insulated from temporary demand softness. Pixabay/Public Domain Seadrill Limited (NYSE:SDRL) owns a modern fleet of deepwater and jackup rigs, delivering precision offshore drilling worldwide. With a fortified balance sheet, expanding backlog, and analysts now raising expectations, SDRL checks every box for hedge funds hunting leverage in the next offshore upswing. While we acknowledge the potential of SDRL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Yahoo
19-07-2025
- Business
- Yahoo
Borr Drilling Downgraded, but Offshore Bulls Still Watching Closely
Borr Drilling Limited (NYSE:BORR) is one of the best oil drilling stocks according to hedge funds, though it just got a dose of realism from analysts. On July 14, BTIG downgraded the stock from Buy to Neutral, citing ongoing softness in the offshore drilling market and continued pressure on day rates and utilization levels . That downgrade isn't a red alert; it's a reminder of the current offshore cycle turbulence. But BTIG still sees upside potential if utilization improves, keeping expectations tempered yet open. Despite the downgrade, Borr's fleet remains one of the most modern in the offshore space and fully dedicated to drilling operations. The company recently locked in multi-year contracts for several jackup rigs, which should bring some stability to cash flow. Hedge funds often track these contract awards and asset quality, and while current conditions aren't stellar, Borr's position in the market puts it on the radar for investors betting on a recovery cycle. QiuJu Song/ Borr Drilling (NYSE:BORR) is a pure-play offshore drilling contractor headquartered in Bermuda, managing a fleet of midwater and premium jackup rigs. It focuses on contract drilling in key regions across Asia, the Middle East, and North Sea-adjacent waters. While we acknowledge the potential of BORR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
19-07-2025
- Business
- Yahoo
Noble Corporation Earns Price Target Hike as Offshore Tailwinds Build
Noble Corporation plc (NYSE:NE) is one of the best oil drilling stocks according to hedge funds. On July 10, Barclays reaffirmed its Overweight rating and raised its 12-month price target to $30 (from $29), highlighting the company's solid offshore positioning and backlog strength. Barclays analyst Eddie Kim emphasized that even in a choppy offshore drilling market, Noble Corp (NYSE:NE)'s modern fleet and contract visibility provide cushioning. They believe rising activity later in the year could drive sustained upside beyond the $30 target. marchello74 / This isn't a lukewarm hold, it's a clear vote of confidence from a top-tier bank. Hedge funds love offshore contractors with rigorous fleets and multi-year deal cover, and this call puts Noble back in the spotlight. Noble Corporation (NE) is a pure-play offshore drilling contractor with high-spec semis and drillships, focusing on deepwater and ultra-deepwater operations worldwide. While we acknowledge the potential of NE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
