Transocean Partners’ Quiet Period Set To Expire on September 9th (NASDAQ:RIGP)
Transocean Partners’ (NASDAQ:RIGP) quiet period is set to expire on Tuesday, September 9th. Transocean Partners had issued 17,500,000 shares in its IPO on July 31st, AnalystRatings.NET reports. The total size of the offering was $385,000,000 based on an initial share price of $22.00. During Transocean Partners’ quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of research firms have recently commented on RIGP. Analysts at Morgan Stanley initiated coverage on shares of Transocean Partners in a research note on Tuesday, August 26th. They set an “overweight” rating and a $31.00 price target on the stock. Separately, analysts at Bank of America initiated coverage on shares of Transocean Partners in a research note on Tuesday, August 26th. They set a “buy” rating on the stock. Finally, analysts at Barclays initiated coverage on shares of Transocean Partners in a research note on Tuesday, August 26th. They set an “equal weight” rating and a $26.00 price target on the stock.
Shares of Transocean Partners (NASDAQ:RIGP) remained flat at $28.7512 during during mid-day trading trading on Thursday. The stock had a trading volume of 19,076 shares. Transocean Partners has a 1-year low of $21.90 and a 1-year high of $29.43. The stock’s 50-day moving average is $25.15 and its 200-day moving average is $25.15. The company has a market cap of $1.983 billion and a P/E ratio of 10.49.
Transocean Partners LLC (NASDAQ:RIGP) is a growth-oriented limited liability company.
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