The New Phill Gross And Robert Atchinson’s Adage Capital Partners Gp Llc Holding in Transocean Partners LLC (NYSE:RIGP)
Adage Capital Partners Gp Llc filed with the SEC SC 13G form for Transocean Partners Llc. The form can be accessed here: 000090266415004500. As reported in Phill Gross And Robert Atchinson’s Adage Capital Partners Gp Llc’s form, the filler as of late owns 5.51% or 2,280,732 shares of the -company.
Transocean Partners LLC (NYSE:RIGP) stake is a new one for the for the hedge fund and it was filed because of activity on December 2, 2015. We feel this shows Phill Gross And Robert Atchinson’s Adage Capital Partners Gp Llc’s positive view for the stock.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Phill Gross And Robert Atchinson’s Adage Capital Partners Gp Llc’s US equities portfolio is in this sector.
Transocean Partners Llc Institutional Sentiment
Latest Security and Exchange filings show 43 investors own Transocean Partners Llc. The institutional ownership in Q3 2015 is low, at 27.14% of the outstanding shares. This is decreased by 1526833 the total institutional shares. 11231218 were the shares owned by these institutional investors. In total 6 funds opened new Transocean Partners Llc stakes, 20 increased stakes. There were 12 that closed positions and 12 reduced them.
Jonathan Barrett And Paul Segal Luminus Management Llc is an institutional investor bullish on Transocean Partners Llc, owning 349232 shares as of Q3 2015 for 0.10% of its portfolio. Leon Cooperman Omega Advisors Inc owns 1117991 shares or 0.22% of its portfolio. KS Whetstone Capital Advisors Llc have 0.23% of their stock portfolio for 65096 shares. Further, Athena Global Investors Llc reported stake worth 0.08% of its US stock portfolio. The TX Eagle Global Advisors Llc owns 1448317 shares. Transocean Partners Llc is 0.46% of the manager’s US portfolio.
Business Profile
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.
SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.
The institutional sentiment increased to 1.08 in Q3 2015. Its up 0.42, from 0.66 in 2015Q2. The ratio increased, as 12 funds sold all Transocean Partners LLC shares owned while 12 reduced positions. 6 funds bought stakes while 20 increased positions. They now own 11.23 million shares or 11.97% less from 12.76 million shares in 2015Q2.
Eagle Global Advisors Llc holds 0.46% of its portfolio in Transocean Partners LLC for 1.45 million shares. Whetstone Capital Advisors Llc owns 65,096 shares or 0.23% of their US portfolio. Moreover, Omega Advisors Inc. has 0.22% invested in the company for 1.12 million shares. The United Kingdom-based Gsa Capital Partners Llp has invested 0.1% in the stock. Luminus Management Llc, a New York-based fund reported 349,232 shares.
Since September 8, 2015, the stock had 1 insider purchase, and 0 sales for $16,650 net activity. Lynch-Bell Michael David bought 1,500 shares worth $16,650.
The stock decreased 0.66% or $0.06 on December 11, hitting $8.98. About 172,541 shares traded hands or 18.39% up from the average. Transocean Partners LLC (NYSE:RIGP) has declined 40.76% since May 8, 2015 and is downtrending. It has underperformed by 37.74% the S&P500.
More notable recent Transocean Partners LLC (NYSE:RIGP) news were published by: Seekingalpha.com which released: “Drilling Into Transocean Partners LLC And Seadrill Partners LLC” on November 11, 2014, also Nasdaq.com with their article: “Transocean Partners LLC Provides Fleet Status Report” published on October 26, 2015, Nasdaq.com published: “Transocean Partners LLC Reports Third Quarter 2015 Results and Announces Unit …” on November 04, 2015. More interesting news about Transocean Partners LLC (NYSE:RIGP) were released by: Seekingalpha.com and their article: “The Simple Math Behind Transocean Partners” published on November 09, 2015 as well as Seekingalpha.com‘s news article titled: “Should You Buy Transocean Ltd. Or Transocean Partners LLC?” with publication date: September 12, 2014.
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.” Get a free copy of the Zacks research report on Transocean Partners LLC (RIGP).
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