Seadrill Partners (SDLP) Upgraded to “Buy” by ValuEngine

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

Several other equities analysts have also weighed in on SDLP. Zacks Investment Research upgraded shares of Seadrill Partners from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Tuesday, August 15th. BidaskClub upgraded shares of Seadrill Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th.

Seadrill Partners (SDLP) traded up $0.07 on Friday, reaching $3.70. 190,540 shares of the company traded hands, compared to its average volume of 223,914. The company has a market capitalization of $273.26, a price-to-earnings ratio of 2.17 and a beta of 2.24. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.08 and a current ratio of 2.08. Seadrill Partners has a one year low of $2.61 and a one year high of $5.32.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDLP. Quinn Opportunity Partners LLC purchased a new stake in Seadrill Partners during the second quarter valued at about $111,000. Wealthsource Partners LLC lifted its holdings in Seadrill Partners by 113.1% during the third quarter. Wealthsource Partners LLC now owns 31,935 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 16,949 shares during the last quarter. Royal Bank of Canada lifted its holdings in Seadrill Partners by 3,111.8% during the second quarter. Royal Bank of Canada now owns 84,086 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 81,468 shares during the last quarter. PEAK6 Investments L.P. purchased a new stake in Seadrill Partners during the third quarter valued at about $351,000. Finally, Arrow Investment Advisors LLC lifted its holdings in Seadrill Partners by 14.2% during the third quarter. Arrow Investment Advisors LLC now owns 228,426 shares of the oil and gas company’s stock valued at $847,000 after purchasing an additional 28,317 shares during the last quarter. 11.09% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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