Q Global Advisors LLC raised its stake in Seadrill Partners LLC (NYSE:SDLP) by 171.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,357,729 shares of the oil and gas company’s stock after purchasing an additional 857,836 shares during the quarter. Seadrill Partners accounts for 6.7% of Q Global Advisors LLC’s portfolio, making the stock its 8th biggest position. Q Global Advisors LLC owned 1.80% of Seadrill Partners worth $4,732,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Millennium Management LLC bought a new position in shares of Seadrill Partners during the fourth quarter valued at approximately $149,000. Renaissance Technologies LLC bought a new position in shares of Seadrill Partners during the fourth quarter valued at approximately $150,000. Deutsche Bank AG bought a new position in shares of Seadrill Partners during the fourth quarter valued at approximately $174,000. Royal Bank of Canada raised its holdings in shares of Seadrill Partners by 49.9% during the first quarter. Royal Bank of Canada now owns 150,000 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 49,950 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Seadrill Partners during the second quarter valued at approximately $781,000. Hedge funds and other institutional investors own 16.30% of the company’s stock.
Shares of Seadrill Partners stock traded down $0.05 during midday trading on Tuesday, reaching $3.19. 51,244 shares of the company’s stock traded hands, compared to its average volume of 161,557. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.03. The company has a market cap of $244.65 million, a PE ratio of 1.65 and a beta of 2.13. Seadrill Partners LLC has a 12 month low of $2.60 and a 12 month high of $4.20.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Thursday, August 16th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, August 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.54%.
Separately, ValuEngine downgraded Seadrill Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd.
Seadrill Partners Company Profile
Seadrill Partners LLC owns, operates, and acquires offshore drilling units in the United States, Angola, Thailand, Canada, Equatorial Guinea, Nigeria, Indonesia, Ghana, and internationally. The company primarily serves various oil and gas companies. As of March 31, 2018, its fleet consisted of four semi-submersible drilling rigs, four drillships, and three tender rigs.
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