Seadrill Partners LLC (SDLP) Position Lowered by Morgan Stanley
Morgan Stanley reduced its stake in Seadrill Partners LLC (NASDAQ:SDLP) by 34.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,315,940 shares of the oil and gas company’s stock after selling 692,678 shares during the period. Morgan Stanley’s holdings in Seadrill Partners were worth $4,738,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Prescott Group Capital Management L.L.C. bought a new position in shares of Seadrill Partners during the first quarter valued at about $3,184,000. Acadian Asset Management LLC raised its position in shares of Seadrill Partners by 49.7% in the first quarter. Acadian Asset Management LLC now owns 684,003 shares of the oil and gas company’s stock valued at $2,463,000 after buying an additional 227,004 shares during the period. Renaissance Technologies LLC bought a new position in shares of Seadrill Partners during the fourth quarter valued at about $1,492,000. UBS Group AG raised its position in shares of Seadrill Partners by 129.5% in the first quarter. UBS Group AG now owns 264,677 shares of the oil and gas company’s stock valued at $953,000 after buying an additional 149,337 shares during the period. Finally, Creative Planning raised its position in shares of Seadrill Partners by 1,711.4% in the first quarter. Creative Planning now owns 63,506 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 60,000 shares during the period.
Seadrill Partners LLC (NASDAQ:SDLP) remained flat at $2.68 during mid-day trading on Friday. The company’s stock had a trading volume of 103,029 shares. Seadrill Partners LLC has a one year low of $2.61 and a one year high of $5.33. The company has a 50-day moving average price of $3.17 and a 200-day moving average price of $3.46. The stock has a market cap of $246.08 million and a PE ratio of 0.82.
Seadrill Partners (NASDAQ:SDLP) last issued its quarterly earnings data on Wednesday, May 24th. The oil and gas company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.43. Seadrill Partners had a net margin of 32.64% and a return on equity of 18.72%. The business had revenue of $327.50 million during the quarter, compared to analysts’ expectations of $367 million. On average, equities research analysts expect that Seadrill Partners LLC will post $1.50 earnings per share for the current fiscal year.
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SDLP has been the subject of several research reports. BidaskClub lowered shares of Seadrill Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine upgraded shares of Seadrill Partners from a “hold” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Seadrill Partners from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Seadrill Partners presently has a consensus rating of “Hold” and a consensus target price of $6.00.
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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