Transocean Partners LLC (NYSE:RIGP) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Transocean Partners LLC (NYSE:RIGP) have been given an average rating of “Hold” by the six research firms that are covering the stock. Six investment analysts have rated the stock with a hold rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.19.
A number of research analysts have recently issued reports on RIGP shares. Wells Fargo & Co. restated a “hold” rating and issued a $7.50 price target on shares of Transocean Partners in a research report on Thursday, July 7th. Zacks Investment Research upgraded shares of Transocean Partners from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, July 29th. Sidoti downgraded shares of Transocean Partners from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.00 in a research report on Monday, August 1st. Morgan Stanley downgraded shares of Transocean Partners from an “overweight” rating to an “equal weight” rating and set a $14.00 price target on the stock. in a research report on Tuesday, July 26th. Finally, TheStreet upgraded shares of Transocean Partners from a “sell” rating to a “hold” rating in a research report on Monday, June 6th.
Shares of Transocean Partners (NYSE:RIGP) traded down 5.35% on Monday, reaching $11.67. 112,651 shares of the company traded hands. The firm has a 50-day moving average price of $11.42 and a 200 day moving average price of $11.39. Transocean Partners has a one year low of $5.89 and a one year high of $13.47. The company’s market capitalization is $799.41 million.
Transocean Partners (NYSE:RIGP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The firm had revenue of $155 million for the quarter. Transocean Partners had a negative net margin of 5.71% and a positive return on equity of 5.39%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Equities analysts forecast that Transocean Partners will post $1.90 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its stake in Transocean Partners by 1,703.8% in the first quarter. Acadian Asset Management LLC now owns 79,368 shares of the company’s stock valued at $703,000 after buying an additional 74,968 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Transocean Partners by 2.7% in the first quarter. BlackRock Group LTD now owns 100,972 shares of the company’s stock worth $896,000 after buying an additional 2,688 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Transocean Partners by 65.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 41,094 shares of the company’s stock worth $364,000 after buying an additional 16,190 shares during the period. Acrospire Investment Management LLC acquired a new stake in shares of Transocean Partners during the first quarter worth approximately $116,000. Finally, Brookfield Asset Management Inc. acquired a new stake in shares of Transocean Partners during the first quarter worth approximately $198,000. Institutional investors own 33.71% of the company’s stock.
Transocean Partners Company Profile
Transocean Partners LLC a limited liability company. The Company is formed by Transocean Partners Holdings Limited and a subsidiary of Transocean Ltd. (Transocean), to own, operate and acquire advanced offshore drilling rigs. The Company’s assets consist of over 50% ownership interest in each of the entities that owns and operates over three ultra-deepwater drilling rigs that are operating in the U.S.
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