Seadrill Partners LLC (NYSE:SDLP) Short Interest Down 18.1% in June

Seadrill Partners LLC (NYSE:SDLP) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 210,800 shares, a decline of 18.1% from the May 30th total of 257,400 shares. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is currently 6.6 days. Currently, 0.4% of the company’s shares are short sold.

SDLP stock traded down $0.07 during mid-day trading on Friday, reaching $3.94. The company’s stock had a trading volume of 15,754 shares, compared to its average volume of 43,543. The company has a market capitalization of $29.66 million, a P/E ratio of 0.86 and a beta of 1.71. The business’s 50 day moving average price is $1.17. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.76 and a current ratio of 2.76. Seadrill Partners has a 12 month low of $3.33 and a 12 month high of $38.70.

Seadrill Partners (NYSE:SDLP) last issued its earnings results on Thursday, May 23rd. The oil and gas company reported ($3.30) earnings per share for the quarter. Seadrill Partners had a return on equity of 1.23% and a net margin of 3.26%. The business had revenue of $203.70 million during the quarter.

Separately, ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a report on Friday, April 19th.

A number of institutional investors have recently made changes to their positions in SDLP. Marshall Wace LLP acquired a new stake in Seadrill Partners in the first quarter valued at approximately $56,000. Millennium Management LLC acquired a new stake in Seadrill Partners in the fourth quarter valued at approximately $56,000. Arrow Investment Advisors LLC grew its stake in Seadrill Partners by 112.0% in the first quarter. Arrow Investment Advisors LLC now owns 270,037 shares of the oil and gas company’s stock valued at $231,000 after acquiring an additional 142,682 shares during the period. Deutsche Bank AG grew its stake in Seadrill Partners by 96.8% in the fourth quarter. Deutsche Bank AG now owns 547,760 shares of the oil and gas company’s stock valued at $947,000 after acquiring an additional 269,360 shares during the period. Finally, Q Global Advisors LLC grew its stake in Seadrill Partners by 11.9% in the fourth quarter. Q Global Advisors LLC now owns 2,237,722 shares of the oil and gas company’s stock valued at $3,871,000 after acquiring an additional 237,722 shares during the period. 18.86% of the stock is owned by hedge funds and other institutional investors.

About Seadrill Partners

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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