12 Best Get Rich Fast Stocks To Buy Now

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1. Transocean Ltd. (NYSE:RIG)

Number of Hedge Fund Holders: 38

Transocean Ltd. (NYSE:RIG) provides offshore contract drilling services for oil and gas wells worldwide. In the third quarter of 2024, contract drilling revenues rose by $87 million sequentially, reaching $948 million. This increase was driven by higher rig utilization, increased day rates for two rigs, and a full quarter of earnings from the newbuild ultra-deepwater drillship Deepwater Aquila. In December last year, Barclays upgraded the stock to Overweight with a $4.50 price target. While the offshore drilling sector has faced slow tenders, lower day rates, and gaps in schedules, Transocean’s entire deepwater fleet is fully contracted through 2026. Barclays expects offshore drilling activity to pick up by late 2025, driven by new deepwater projects and more exploration. The fourth-quarter results for 2024 included $20 million in discrete tax items, net, equivalent to $0.02 per diluted share.

While we acknowledge the potential of Transocean Ltd. (NYSE:RIG) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Transocean Ltd. (NYSE:RIG) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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