Why These Energy Stocks are Losing This Week

6. Transocean Ltd. (NYSE:RIG)

Share Price Decline Between Feb. 24 and Mar. 3: 19.82%

Transocean Ltd. (NYSE:RIG) is a leading international provider of offshore contract drilling services for oil and gas wells.

Transocean Ltd. (NYSE:RIG) has a strong disconnect between its fundamentals and its share price, as the stock remains at the same levels as October 2022, despite a vastly improved business environment. The company also beat market expectations with a Q4 EPS of $0.05. However, its revenue of $952 million, though up almost 28.5% YoY, was below analysts’ estimates by $10.68 million.

Transocean Ltd. (NYSE:RIG) was included among the 10 Worst Performing Energy Stocks in 2024.