Seadrill Partners LLC (SDLP) Upgraded at BidaskClub
BidaskClub upgraded shares of Seadrill Partners LLC (NASDAQ:SDLP) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
A number of other equities analysts have also issued reports on SDLP. Zacks Investment Research raised Seadrill Partners from a hold rating to a buy rating and set a $4.00 price target on the stock in a report on Friday, May 26th. ValuEngine downgraded shares of Seadrill Partners from a buy rating to a hold rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Seadrill Partners has an average rating of Hold and a consensus target price of $5.50.
Shares of Seadrill Partners (SDLP) opened at 3.57 on Thursday. The stock has a market capitalization of $327.80 million and a PE ratio of 1.31. The stock has a 50 day moving average price of $3.10 and a 200-day moving average price of $3.36. Seadrill Partners has a 1-year low of $2.61 and a 1-year high of $5.33.
Seadrill Partners (NASDAQ:SDLP) last posted its earnings results on Thursday, August 24th. The oil and gas company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.25 by $0.09. The business had revenue of $267.90 million during the quarter, compared to analysts’ expectations of $231 million. Seadrill Partners had a net margin of 32.64% and a return on equity of 18.72%. On average, analysts forecast that Seadrill Partners will post $1.50 earnings per share for the current year.
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The company also recently announced a dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 25th.
Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted 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 in the last quarter. Prescott Group Capital Management L.L.C. raised its position 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 valued at $6,478,000 after buying an additional 1,020,869 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Seadrill Partners by 11.4% in the second quarter. Goldman Sachs Group Inc. now owns 930,251 shares of the oil and gas company’s stock valued at $3,163,000 after buying an additional 95,185 shares during the last quarter. Acadian Asset Management LLC raised its position 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 valued at $2,463,000 after buying an additional 227,004 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Seadrill Partners during the second quarter valued at $1,170,000.
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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