Seadrill Partners LLC (NASDAQ:SDLP) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, July 27th.
SDLP has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Seadrill Partners from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Friday, May 26th. BidaskClub downgraded shares of Seadrill Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.50.
Shares of Seadrill Partners (NASDAQ SDLP) traded down 0.74% during midday trading on Thursday, reaching $2.69. 197,822 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $3.13 and its 200 day moving average price is $3.41. The company has a market cap of $247.00 million and a price-to-earnings ratio of 0.83. Seadrill Partners has a 12-month low of $2.61 and a 12-month high of $5.32.
Seadrill Partners (NASDAQ:SDLP) last announced its quarterly earnings data on Wednesday, May 24th. The oil and gas company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.43. Seadrill Partners had a net margin of 32.64% and a return on equity of 18.72%. The company had revenue of $327.50 million during the quarter, compared to analyst estimates of $367 million. Equities analysts anticipate that Seadrill Partners will post $1.50 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its position in Seadrill Partners by 1.2% in the first quarter. Acrospire Investment Management LLC now owns 27,735 shares of the oil and gas company’s stock worth $100,000 after buying an additional 335 shares during the period. Nine Chapters Capital Management LLC acquired a new position in Seadrill Partners during the first quarter worth approximately $104,000. Eqis Capital Management Inc. increased its position in Seadrill Partners by 8.2% in the second quarter. Eqis Capital Management Inc. now owns 32,051 shares of the oil and gas company’s stock worth $109,000 after buying an additional 2,429 shares during the period. Quinn Opportunity Partners LLC acquired a new position in Seadrill Partners during the second quarter worth approximately $111,000. Finally, HighTower Advisors LLC increased its position in Seadrill Partners by 2.4% in the first quarter. HighTower Advisors LLC now owns 48,809 shares of the oil and gas company’s stock worth $178,000 after buying an additional 1,122 shares during the period.
Seadrill Partners Company Profile
Seadrill Partners LLC is an offshore deepwater drilling company. The Company owns, operates and acquires offshore drilling units. The Company’s subsidiaries include Seadrill Operating LP, Seadrill Capricorn Holdings LLC and Seadrill Partners Operating LLC (collectively, OPCO). The Company’s segment is OPCO’s fleet.
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