Zacks Investment Research upgraded shares of Seadrill Partners LLC (NASDAQ:SDLP) from a hold rating to a buy rating in a report issued on Thursday. They currently have $3.75 price target on the 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. “
SDLP has been the subject of a number of other reports. Morgan Stanley downgraded shares of Seadrill Partners from an overweight rating to an equal weight rating and set a $7.50 price objective for the company. in a research report on Tuesday, July 26th. Wells Fargo & Co. reaffirmed a hold rating and issued a $2.50 price objective on shares of Seadrill Partners in a research report on Thursday, July 7th.
Seadrill Partners (NASDAQ:SDLP) traded down 0.9796% during midday trading on Thursday, hitting $3.3964. 155,801 shares of the stock were exchanged. The firm’s 50-day moving average price is $3.45 and its 200 day moving average price is $4.51. The firm has a market capitalization of $311.86 million and a P/E ratio of 1.7232. Seadrill Partners has a 1-year low of $1.70 and a 1-year high of $12.20.
A hedge fund recently raised its stake in Seadrill Partners stock. Eqis Capital Management Inc. increased its position in shares of Seadrill Partners LLC (NASDAQ:SDLP) by 30.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,407 shares of the company’s stock after buying an additional 8,775 shares during the period. Eqis Capital Management Inc.’s holdings in Seadrill Partners were worth $132,000 at the end of the most recent 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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