The stock of Transocean Partners LLC (NYSE:RIGP) hit a new 52-week high and has $14.26 target or 5.00% above today’s $13.58 share price. The 9 months bullish chart indicates low risk for the $920.98 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $14.26 price target is reached, the company will be worth $46.05M 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. The stock decreased 2.44% or $0.34 on November 28, hitting $13.58. About 183,208 shares traded hands. Transocean Partners LLC (NYSE:RIGP) has risen 25.07% since April 25, 2016 and is uptrending. It has outperformed by 19.05% 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. Morgan Stanley downgraded the shares of RIGP in a report on Tuesday, July 26 to “Equal-Weight” rating. On Monday, July 11 the stock rating was maintained by Citigroup with “Neutral”. The firm has “Buy” rating given on Friday, January 15 by Sidoti.
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 dived, 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.
California Pub Employees Retirement Systems last reported 0% of its portfolio in the stock. Gsa Capital Ptnrs Llp has invested 0.19% of its portfolio in Transocean Partners LLC (NYSE:RIGP). Salient Advisors Ltd Com, a Texas-based fund reported 70,761 shares. Invesco Limited last reported 0% of its portfolio in the stock. Blackrock Institutional Trust Na accumulated 72,287 shares or 0% of the stock. Credit Suisse Ag holds 79,508 shares or 0% of its portfolio. Moreover, Citadel Advisors Limited Liability Company has 0% invested in Transocean Partners LLC (NYSE:RIGP) for 252,168 shares. Northern Trust Corporation holds 0% of its portfolio in Transocean Partners LLC (NYSE:RIGP) for 12,064 shares. The New York-based Qs Investors Ltd Liability Corp has invested 0% in Transocean Partners LLC (NYSE:RIGP). Lpl Financial Limited Liability Com accumulated 0% or 11,891 shares. Millennium Management Ltd reported 448,671 shares or 0.01% of all its holdings. Tower Research Capital Ltd Liability Com (Trc) last reported 0% of its portfolio in the stock. Amp Invsts Limited holds 15,600 shares or 0% of its portfolio. Schroder Mngmt Group Incorporated has 0.02% invested in the company for 592,916 shares. Balyasny Asset Ltd Liability Corporation has 10,833 shares for 0% of their US portfolio.
More notable recent Transocean Partners LLC (NYSE:RIGP) news were published by: Globenewswire.com which released: “Transocean Ltd. Increases Consideration for Acquisition of Transocean Partners LLC” on November 21, 2016, also Fool.com with their article: “Transocean Partners LLC Soars on Buyout” published on August 01, 2016, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on July 31, 2014. More interesting news about Transocean Partners LLC (NYSE:RIGP) were released by: Globenewswire.com and their article: “Transocean Partners LLC Announces Adjournment of Special Meeting until …” published on November 16, 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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