Seadrill Partners (SDLP) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Seadrill Partners (NYSE:SDLP) from a hold rating to a buy rating in a research note issued to investors on Friday, December 1st.

Several other brokerages have also recently commented on SDLP. BidaskClub raised shares of Seadrill Partners from a hold rating to a buy rating in a research report on Saturday, September 23rd. Zacks Investment Research raised shares of Seadrill Partners from a hold rating to a buy rating and set a $3.00 target price on the stock in a report on Tuesday, August 15th.

Shares of Seadrill Partners (SDLP) opened at $3.34 on Friday. 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 52-week low of $2.61 and a 52-week high of $5.32. The company has a market cap of $251.43, a PE ratio of 2.00 and a beta of 2.24.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, November 7th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 6th. This represents a $0.40 annualized dividend and a yield of 11.98%. Seadrill Partners’s dividend payout ratio is currently 13.89%.

A number of institutional investors have recently added to or reduced their stakes in SDLP. Quinn Opportunity Partners LLC bought a new position in Seadrill Partners in the 2nd quarter valued at about $111,000. Goldman Sachs Group Inc. grew its position in shares of Seadrill Partners by 11.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 930,251 shares of the oil and gas company’s stock worth $3,163,000 after purchasing an additional 95,185 shares in the last quarter. Royal Bank of Canada grew its position in shares of Seadrill Partners by 3,111.8% during the 2nd quarter. Royal Bank of Canada now owns 84,086 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 81,468 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Seadrill Partners during the 2nd quarter worth approximately $1,170,000. Finally, Arrow Investment Advisors LLC grew its position in shares of Seadrill Partners by 14.2% during the 3rd quarter. Arrow Investment Advisors LLC now owns 228,426 shares of the oil and gas company’s stock worth $847,000 after purchasing an additional 28,317 shares in the last quarter. 11.11% of the stock is currently owned by hedge funds and other institutional investors.

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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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