ValuEngine upgraded shares of Seadrill Partners LLC (NASDAQ:SDLP) from a hold rating to a buy rating in a report released on Thursday.

A number of other analysts have also weighed in on the company. Zacks Investment Research upgraded Seadrill Partners from a hold rating to a buy rating and set a $4.00 target price for the company in a report on Friday, May 26th. BidaskClub lowered Seadrill Partners from a buy rating to a hold rating in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $6.00.

Seadrill Partners (NASDAQ:SDLP) opened at 3.04 on Thursday. The stock has a market cap of $279.14 million and a PE ratio of 0.93. Seadrill Partners has a 52 week low of $2.70 and a 52 week high of $5.32. The firm’s 50-day moving average price is $3.29 and its 200-day moving average price is $3.55.

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 (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.43. Seadrill Partners had a return on equity of 18.72% and a net margin of 32.64%. The company had revenue of $327.50 million for the quarter, compared to analysts’ expectations of $367 million. Equities analysts predict that Seadrill Partners will post $1.50 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in 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 worth $9,214,000 after buying an additional 1,577,949 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its stake in 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 worth $6,478,000 after buying an additional 1,020,869 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in 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 worth $3,006,000 after buying an additional 691,492 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Seadrill Partners during the fourth quarter worth $1,492,000. Finally, Acadian Asset Management LLC raised its stake in Seadrill Partners by 49.7% in the first quarter. Acadian Asset Management LLC now owns 684,003 shares of the oil and gas company’s stock worth $2,463,000 after buying an additional 227,004 shares in the last quarter.

About Seadrill Partners

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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