Seadrill Partners LLC (SDLP) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Seadrill Partners LLC (NASDAQ:SDLP) from a hold rating to a buy rating in a report published on Thursday. The firm currently has $3.75 price objective 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. “
Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Co. downgraded shares of Seadrill Partners from a market perform rating to an underperform rating in a research report on Friday, September 9th. 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.
Seadrill Partners (NASDAQ:SDLP) traded down 0.9796% during midday trading on Thursday, reaching $3.3964. The company had a trading volume of 155,801 shares. The stock’s 50 day moving average is $3.45 and its 200 day moving average is $4.51. Seadrill Partners has a one year low of $1.70 and a one year high of $12.20. The company has a market capitalization of $311.86 million and a PE ratio of 1.7232.
An institutional investor recently raised its position in Seadrill Partners stock. Eqis Capital Management Inc. raised its position in shares of Seadrill Partners LLC (NASDAQ:SDLP) by 30.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 reporting 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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