Seadrill Partners LLC (SDLP) Short Interest Update
Seadrill Partners LLC (NYSE:SDLP) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 1,215,660 shares, a drop of 38.1% from the September 15th total of 1,964,371 shares. Based on an average daily volume of 613,762 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.5% of the company’s stock are sold short.
A number of research analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of Seadrill Partners from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 26th. Wells Fargo & Co. downgraded shares of Seadrill Partners from a “market perform” rating to an “underperform” rating in a report on Friday, September 9th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $6.63.
Seadrill Partners (NYSE:SDLP) opened at 3.52 on Wednesday. The company has a 50-day moving average of $3.41 and a 200 day moving average of $4.51. The company has a market cap of $323.21 million, a P/E ratio of 1.79 and a beta of 2.20. Seadrill Partners has a one year low of $1.70 and a one year high of $12.20.
Large investors have recently modified their holdings of the stock. Babson Capital Management LLC increased its stake in shares of Seadrill Partners by 326.1% in the first quarter. Babson Capital Management LLC now owns 635,944 shares of the company’s stock valued at $2,213,000 after buying an additional 486,700 shares during the last quarter. Barclays PLC increased its stake in shares of Seadrill Partners by 7.9% in the first quarter. Barclays PLC now owns 86,197 shares of the company’s stock valued at $259,000 after buying an additional 6,317 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Seadrill Partners by 3.9% in the first quarter. State Street Corp now owns 42,397 shares of the company’s stock valued at $148,000 after buying an additional 1,583 shares during the last quarter.
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.
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