Citi Maintains a Hold on Transocean Ltd. (RIG)

Core Insights - Transocean Ltd. (NYSE:RIG) is recognized as a promising penny stock by hedge funds, with Citi maintaining a Hold rating and setting a price target of $3.50 [1] Financial Performance - In fiscal Q2 2025, Transocean reported net unfavorable items totaling $957 million, resulting in an adjusted net income of $19 million for the quarter [2] - Contract drilling revenues for the three months ending June 30 increased by $82 million sequentially to reach $988 million, driven by improved revenue efficiency, rig utilization, an additional day in the quarter, and higher reimbursement revenues [3] Company Overview - Transocean Ltd. specializes in offshore contract drilling services for oil and gas wells and operates various offshore drilling fleets, including ultra-deepwater, deepwater, harsh environment, and midwater rigs [4]