Transocean Partners LLC (NYSE:RIGP) Receives $11.19 Average Target Price from Analysts
Transocean Partners LLC (NYSE:RIGP) has been given an average rating of “Hold” by the six analysts that are currently covering the company. Six research analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $11.19.
A number of research firms have recently weighed in on RIGP. Zacks Investment Research lowered Transocean Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Sidoti lowered Transocean Partners from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $12.00 in a report 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 on the stock. in a report on Tuesday, July 26th. Wells Fargo & Co. reiterated a “hold” rating and set a $7.50 price target on shares of Transocean Partners in a report on Thursday, July 7th. Finally, Citigroup Inc. lifted their price target on Transocean Partners from $8.00 to $11.25 and gave the stock a “neutral” rating in a report on Monday, July 11th.
Shares of Transocean Partners (NYSE:RIGP) opened at 11.80 on Monday. The stock’s 50 day moving average price is $11.39 and its 200-day moving average price is $11.47. The company’s market capitalization is $808.31 million. Transocean Partners has a 52-week low of $5.89 and a 52-week high of $13.47.
Transocean Partners (NYSE:RIGP) last posted its earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. Transocean Partners had a positive return on equity of 5.39% and a negative net margin of 5.71%. The company had revenue of $155 million for the quarter. During the same quarter in the prior year, the business earned $0.51 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities analysts expect that Transocean Partners will post $1.90 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. Walleye Trading LLC raised its stake in shares of Transocean Partners by 56.9% in the second quarter. Walleye Trading LLC now owns 8,000 shares of the company’s stock valued at $101,000 after buying an additional 2,900 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Transocean Partners during the second quarter valued at about $142,000. Zacks Investment Management purchased a new stake in shares of Transocean Partners during the second quarter valued at about $156,000. Acrospire Investment Management LLC purchased a new stake in shares of Transocean Partners during the first quarter valued at about $116,000. Finally, Brookfield Asset Management Inc. purchased a new stake in shares of Transocean Partners during the first quarter valued at about $198,000. Hedge funds and other 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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