Transocean Partners LLC (NYSE:RIGP) has been assigned an average recommendation of “Hold” from the six analysts that are presently covering the stock. Six investment analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $11.19.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Transocean Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Sidoti lowered 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 note on Monday, August 1st. Morgan Stanley lowered Transocean Partners from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research note on Tuesday, July 26th. Wells Fargo & Co. reaffirmed a “hold” rating and issued a $7.50 price target on shares of Transocean Partners in a research note on Thursday, July 7th. Finally, TheStreet raised Transocean Partners from a “sell” rating to a “hold” rating in a research note on Monday, June 6th.
Transocean Partners (NYSE:RIGP) traded down 5.35% during trading on Monday, reaching $11.67. 112,651 shares of the company’s stock were exchanged. Transocean Partners has a 12 month low of $5.89 and a 12 month high of $13.47. The stock’s market cap is $799.41 million. The firm has a 50 day moving average of $11.42 and a 200-day moving average of $11.39.
Transocean Partners (NYSE:RIGP) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm earned $155 million during the quarter. Transocean Partners had a positive return on equity of 5.39% and a negative net margin of 5.71%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. On average, equities research analysts anticipate that Transocean Partners will post $1.90 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC increased its position 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 worth $703,000 after buying an additional 74,968 shares during the period. BlackRock Group LTD increased its position in 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. increased its position in 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 purchased a new position in Transocean Partners during the first quarter worth about $116,000. Finally, Brookfield Asset Management Inc. purchased a new position in Transocean Partners during the first quarter worth about $198,000. Institutional investors and hedge funds own 33.71% of the company’s stock.
About Transocean Partners
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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