12 Best High Volume Stocks to Buy According to Analysts

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7. Transocean Ltd. (NYSE:RIG)

Number of Hedge Fund Holders: 38

Average Volume (3-Month): 23.828 million

Upside Potential as of February 19: 43.48%

Transocean Ltd. (NYSE:RIG) is a global leader in offshore contract drilling and provides essential services to the oil and gas industry. It operates through a sophisticated fleet of ultra-deepwater and harsh environment floaters and delivers critical drilling solutions to integrated, government, and independent energy companies worldwide.

Its primary revenue source is its advanced offshore drilling services. In 2024, it generated $3.5 billion in adjusted contract drilling revenues. The company secured high-value contracts, including rates exceeding $500,000 per day for advanced rigs. It focuses on securing long-term contracts for 2026 and beyond, with ongoing discussions in regions like the US Gulf, Latin America, and Norway. It secured a 4 well option with Reliance Industries in India at $410,000 per day till 2027. It also secured an 8-day option in Australia at $390,000 per day.

Transocean Ltd. (NYSE:RIG) is investing in technology to enhance safety and efficiency, including automation and robotics. It’s now focused on operational execution to convert its $3.1 billion backlog into revenue in 2025. The company is also working on reducing costs.

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