Zacks Investment Research upgraded shares of Seadrill Partners LLC (NASDAQ:SDLP) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $3.00 price objective on the oil and gas company’s stock.
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 research firms have also recently commented on SDLP. ValuEngine cut Seadrill Partners from a buy rating to a hold rating in a research note on Friday, June 2nd. BidaskClub lowered Seadrill Partners from a hold rating to a sell rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Seadrill Partners has an average rating of Hold and an average price target of $5.50.
Seadrill Partners (SDLP) opened at 3.12 on Tuesday. The company has a 50 day moving average price of $3.10 and a 200-day moving average price of $3.39. The company has a market capitalization of $286.48 million and a PE ratio of 0.96. Seadrill Partners has a 12-month low of $2.61 and a 12-month high of $5.32.
Seadrill Partners (NASDAQ:SDLP) last posted its earnings results on Wednesday, May 24th. The oil and gas company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.32 by $0.43. The firm had revenue of $327.50 million during the quarter, compared to the consensus estimate of $367 million. Seadrill Partners had a return on equity of 18.72% and a net margin of 32.64%. On average, analysts anticipate that Seadrill Partners will post $1.50 EPS for the current year.
A number of large investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its stake 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. raised 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 last quarter. Quinn Opportunity Partners LLC acquired a new position in Seadrill Partners during the second quarter worth approximately $111,000. Finally, HighTower Advisors LLC raised 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 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.
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