Transocean Partners LLC (RIGP) was Downgraded by Sidoti to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Sidoti advised their investors in a research report released on Aug 1, 2016.
Many Wall Street Analysts have commented on Transocean Partners LLC. Transocean Partners LLC was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 26, 2016.
On the company’s financial health, Transocean Partners LLC reported $0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $0.50. The company had revenue of $144.00 million for the quarter, compared to analysts expectations of $149.25 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.
Transocean Partners LLC opened for trading at $10.81 and hit $10.95 on the upside on Friday, eventually ending the session at $10.92, with a gain of 0.18% or 0.02 points. The heightened volatility saw the trading volume jump to 56,774 shares. Company has a market cap of $748 M.
In a different news, on Mar 7, 2016, Norman J Szydlowski (director) purchased 1,500 shares at $9.15 per share price. According to the SEC, 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.