Transocean Partners LLC (RIGP) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.52 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.51. The company posted revenue of $155.00 million in the period, compared to analysts expectations of $148.05 million. The company’s revenue was down -3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.
Many Wall Street Analysts have commented on Transocean Partners LLC. Transocean Partners LLC was Downgraded by Sidoti to ” Neutral” on Aug 1, 2016. Transocean Partners LLC was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 26, 2016.
Transocean Partners LLC closed down -0.02 points or -0.17% at $11.95 with 6,35,015 shares getting traded on Tusday. Post opening the session at $12.03, the shares hit an intraday low of $11.57 and an intraday high of $12.224 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
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.