Seadrill Partners LLC (SDLP) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Seadrill Partners LLC (NASDAQ:SDLP) from a buy rating to a hold rating in a report released on Thursday morning.
According to Zacks, “Seadrill Partners LLC is engaged in owning, operating and acquiring offshore drilling rigs. The Company’s drilling rigs are under long-term contracts with major oil companies. Seadrill Partners LLC is based in London, United Kingdom. “
Several other analysts also recently commented on the stock. ValuEngine raised shares of Seadrill Partners from a hold rating to a buy rating in a research report on Thursday. BidaskClub downgraded shares of Seadrill Partners from a buy rating to a hold rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Seadrill Partners presently has an average rating of Hold and a consensus target price of $6.00.
Shares of Seadrill Partners (SDLP) traded down 5.26% on Thursday, hitting $2.88. 441,344 shares of the stock were exchanged. Seadrill Partners has a 12 month low of $2.70 and a 12 month high of $5.32. The company has a market cap of $264.44 million and a PE ratio of 0.88. The company has a 50-day moving average price of $3.29 and a 200 day moving average price of $3.55.
Seadrill Partners (NASDAQ:SDLP) last announced its quarterly earnings data on Wednesday, May 24th. The oil and gas company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $367 million. Equities analysts forecast that Seadrill Partners will post $1.50 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in SDLP. Prescott Group Capital Management L.L.C. increased its stake in shares of Seadrill Partners by 115.4% in the second quarter. Prescott Group Capital Management L.L.C. now owns 1,905,269 shares of the oil and gas company’s stock valued at $6,478,000 after buying an additional 1,020,869 shares during the period. Eqis Capital Management Inc. increased its stake in shares of 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 valued at $109,000 after buying an additional 2,429 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Seadrill Partners by 481.6% in the first quarter. Goldman Sachs Group Inc. now owns 835,066 shares of the oil and gas company’s stock valued at $3,006,000 after buying an additional 691,492 shares during the period. HighTower Advisors LLC increased its stake in shares of 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 valued at $178,000 after buying an additional 1,122 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Seadrill Partners by 160.8% in the first quarter. Bank of America Corp DE now owns 2,559,492 shares of the oil and gas company’s stock valued at $9,214,000 after buying an additional 1,577,949 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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