Seadrill Partners (SDLP) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Seadrill Partners (NYSE:SDLP) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other research analysts have also recently issued reports on the company. BidaskClub cut Seadrill Partners from a buy rating to a hold rating in a research note on Saturday, September 30th. Zacks Investment Research raised Seadrill Partners from a hold rating to a buy rating and set a $3.00 price objective on the stock in a research note on Tuesday, August 15th.

Shares of Seadrill Partners (SDLP) traded down $0.11 during trading hours on Friday, reaching $3.53. The company had a trading volume of 329,540 shares, compared to its average volume of 514,794. Seadrill Partners has a 52 week low of $2.61 and a 52 week high of $5.32. The company has a market capitalization of $278.53, a PE ratio of 2.22 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.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, November 7th were paid 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 11.33%. Seadrill Partners’s dividend payout ratio (DPR) is currently 13.89%.

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in Seadrill Partners by 11.4% in the second 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 stake in Seadrill Partners by 3,111.8% in the second 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 bought a new position in Seadrill Partners in the second quarter worth approximately $1,170,000. Arrow Investment Advisors LLC grew its stake in Seadrill Partners by 14.2% in the third 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. Finally, Quinn Opportunity Partners LLC bought a new stake in Seadrill Partners during the 2nd quarter valued at $111,000. 11.11% of the stock is currently owned by institutional investors.

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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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