Seadrill Partners LLC (NASDAQ:SDLP) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other brokerages have also recently commented on SDLP. Morgan Stanley upgraded shares of Seadrill Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $7.00 to $8.00 in a research report on Thursday, February 2nd. Zacks Investment Research upgraded shares of Seadrill Partners from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Tuesday, February 7th.

Seadrill Partners (NASDAQ SDLP) traded down 3.29% on Friday, hitting $3.23. 1,157,719 shares of the company were exchanged. Seadrill Partners has a 52 week low of $2.70 and a 52 week high of $6.45. The firm’s 50 day moving average is $3.13 and its 200 day moving average is $3.73. The company has a market capitalization of $296.58 million and a P/E ratio of 0.99.

Seadrill Partners (NASDAQ:SDLP) last issued its earnings results on Wednesday, May 24th. The oil and gas company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.43. The business had revenue of $327.50 million during the quarter, compared to analyst estimates of $367 million. On average, equities research analysts forecast that Seadrill Partners will post $1.42 earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of 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 worth $9,214,000 after buying an additional 1,577,949 shares during the period. Fiera Capital Corp boosted its stake in shares of Seadrill Partners by 37.2% in the fourth quarter. Fiera Capital Corp now owns 1,241,100 shares of the oil and gas company’s stock worth $5,213,000 after buying an additional 336,537 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Seadrill Partners during the first quarter worth approximately $3,184,000. Goldman Sachs Group Inc. boosted its stake in shares of 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 during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of 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 during the period.

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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