Stock of the Day: Will Transocean Partners LLC Run Out of Steam Soon?

Stock of the Day: Will Transocean Partners LLC Run Out of Steam Soon?

The stock of Transocean Partners LLC (NYSE:RIGP) hit a new 52-week high and has $14.68 target or 9.00% above today’s $13.47 share price. The 5 months bullish chart indicates low risk for the $938.41 million company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $14.68 price target is reached, the company will be worth $84.46M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.36M shares traded hands or 280.68% up from the average. Transocean Partners LLC (NYSE:RIGP) has risen 18.49% since April 20, 2016 and is uptrending. It has outperformed by 13.93% the S&P500.

Transocean Partners LLC (NYSE:RIGP) Ratings Coverage

Out of 3 analysts covering Transocean Partners LLC (NYSE:RIGP), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Transocean Partners LLC has been the topic of 4 analyst reports since January 12, 2016 according to StockzIntelligence Inc. The company was maintained on Monday, July 11 by Citigroup. The firm earned “Buy” rating on Friday, January 15 by Sidoti. The firm has “Equal-Weight” rating by Morgan Stanley given on Tuesday, July 26.

According to Zacks Investment Research, “Transocean Partners LLC owns, operates and acquires modern, technologically advanced offshore drilling rigs. The Company drills for oil and gas in the United States Gulf of Mexico. Its fleet consists of ultra-deepwater drillships and ultra-deepwater semisubmersible rig. Transocean Partners LLC is based in Aberdeen, the United Kingdom.”

Insitutional Activity: The institutional sentiment decreased to 0.96 in 2016 Q2. Its down 0.26, from 1.22 in 2016Q1. The ratio fall, as 6 funds sold all Transocean Partners LLC shares owned while 17 reduced positions. 8 funds bought stakes while 20 increased positions. They now own 9.82 million shares or 10.31% less from 10.95 million shares in 2016Q1.
Lpl Lc holds 11,891 shares or 0% of its portfolio. Van Eck Assoc has invested 0.03% of its portfolio in Transocean Partners LLC (NYSE:RIGP). Royal Retail Bank Of Canada last reported 0% of its portfolio in the stock. Acadian Asset Mgmt Ltd Liability Company holds 0.01% of its portfolio in Transocean Partners LLC (NYSE:RIGP) for 188,696 shares. Morgan Stanley holds 0% of its portfolio in Transocean Partners LLC (NYSE:RIGP) for 730,800 shares. Susquehanna Group Llp has 48,406 shares for 0% of their US portfolio. Swiss Bancorporation owns 28,000 shares or 0% of their US portfolio. Wells Fargo & Mn reported 9,162 shares or 0% of all its holdings. Goldman Sachs Gp accumulated 885,291 shares or 0% of the stock. Amp Cap Investors holds 0% of its portfolio in Transocean Partners LLC (NYSE:RIGP) for 15,600 shares. Gsa Partners Llp has 276,602 shares for 0.19% of their US portfolio. Financial Bank Of America De last reported 46,472 shares in the company. Invesco Limited last reported 125,100 shares in the company. Schroder Invest Mgmt Group owns 592,916 shares or 0.02% of their US portfolio. Salient Cap Advsr Ltd Liability Corp reported 70,761 shares or 0.02% of all its holdings.

More notable recent Transocean Partners LLC (NYSE:RIGP) news were published by: Fool.com which released: “Transocean Partners LLC Soars on Buyout” on August 01, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on July 31, 2014, Globenewswire.com published: “Transocean Partners LLC Announces Adjournment of Special Meeting until …” on November 11, 2016. More interesting news about Transocean Partners LLC (NYSE:RIGP) were released by: Reuters.com and their article: “BRIEF-Transocean increases consideration for acquisition of Transocean Par…” published on November 21, 2016 as well as Nasdaq.com‘s news article titled: “Transocean Partners LLC (RIGP) Ex-Dividend Date Scheduled for November 09, 2016” with publication date: November 08, 2016.

RIGP Company Profile

Transocean Partners LLC, incorporated on February 6, 2014, is a limited liability company. The Firm 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. Gulf of Mexico (RigCo and collectively, the RigCos). The Firm generates revenue through contract drilling services, which involves contracting its mobile offshore drilling fleet, related equipment and work crews on a day-rate basis to large international energy companies to drill gas and oil wells.

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