Shares of Seadrill Partners LLC (NYSE:SDLP) fell 7.6% during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $2.77 and last traded at $2.79. 516,638 shares traded hands during trading, an increase of 114% from the average session volume of 241,530 shares. The stock had previously closed at $3.02.

The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.21). The company had revenue of $206.20 million for the quarter. Seadrill Partners had a net margin of 17.22% and a return on equity of 5.40%.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.29%. The ex-dividend date was Tuesday, November 6th.

Separately, ValuEngine downgraded shares of Seadrill Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Seadrill Partners by 49.9% in the 1st quarter. Royal Bank of Canada now owns 150,000 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 49,950 shares during the period. Bank of Montreal Can bought a new position in shares of Seadrill Partners in the 2nd quarter worth approximately $781,000. Renaissance Technologies LLC lifted its stake in shares of Seadrill Partners by 7.8% in the 2nd quarter. Renaissance Technologies LLC now owns 214,400 shares of the oil and gas company’s stock worth $744,000 after purchasing an additional 15,512 shares during the period. Aristeia Capital LLC bought a new position in shares of Seadrill Partners in the 2nd quarter worth approximately $7,214,000. Finally, Q Global Advisors LLC lifted its stake in shares of Seadrill Partners by 171.6% in the 2nd quarter. Q Global Advisors LLC now owns 1,357,729 shares of the oil and gas company’s stock worth $4,732,000 after purchasing an additional 857,836 shares during the period. 16.83% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market capitalization of $227.34 million, a price-to-earnings ratio of 1.53 and a beta of 2.00.

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Seadrill Partners Company Profile (NYSE:SDLP)

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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