Brokerage firm Morgan Stanley Downgrades its rating on Transocean Partners LLC(NYSE:RIGP). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jul 26, 2016.
In a different note, On Jul 11, 2016, Citigroup said it Maintains its rating on Transocean Partners LLC. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Neutral’ by the firm.
Transocean Partners LLC (RIGP) made into the market gainers list on Fridays trading session with the shares advancing 0.18% or 0.02 points. Due to strong positive momentum, the stock ended at $10.92, which is also near the day’s high of $10.95. The stock began the session at $10.81 and the volume stood at 56,774 shares. The 52-week high of the shares is $13.74 and the 52 week low is $5.89. The company has a current market capitalization of $748 M and it has 6,85,01,169 shares in outstanding.
Transocean Partners LLC(RIGP) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $144.00M. Analysts had an estimated revenue of $147.80M. Earnings per share were $0.45. Analysts had estimated an EPS of $0.50.
Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, Norman J Szydlowski (director) purchased 1,500 shares at $9.15 per share price.Also, On Sep 8, 2015, Michael David Lynch-bell (director) purchased 1,500 shares at $11.10 per share price.
Transocean Partners LLC is a limited liability company. The Company is formed by Transocean Partners Holdings Limited a wholly owned subsidiary of Transocean Ltd. (Transocean). The Company owns operates and acquires technologically advanced offshore drilling rigs. The Company’s assets consist of 51% interests in the RigCos that own and operate three ultra-deep water drilling rigs that are operating in the United States Gulf of Mexico. Transocean owns the remaining 49% non-controlling interest in each of the RigCos. The Company contracts drilling services which involve contracting mobile offshore drilling fleet related equipment and work crews on a day rate basis to international energy companies to drill oil and gas wells. Transocean Partners drilling rigs operate under long-term contracts with Chevron Corporation and BP plc two international energy companies.