Seadrill Partners LLC (SDLP) has risen sharply, recording gains of 17.24% in the past 4 weeks. However, the stock has corrected -2.86% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 9.82% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Seadrill Partners LLC (NYSE:SDLP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.06 and $6.06 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.29. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.12, notching a gain of 1.16% for the day. The total traded volume was 1,105,764 . The stock had closed at $6.05 on the previous day.
The stock has recorded a 20-day Moving Average of 6.19% and the 50-Day Moving Average is 11.62%. Seadrill Partners LLC is up 28.23% in the last 3-month period. Year-to-Date the stock performance stands at 91.45%.
Seadrill Partners LLC owns, operates and acquires offshore drilling rigs. The Companys drilling units are under long-term contracts with oil companies, such as Chevron, BP, ExxonMobil and Tullow. The Company provides services to these customers with its fleet. The Companys fleet consists of the semi-submersible West Aquarius, West Capricorn, West Leo, West Sirius; the semi-tender West Vencedor; the tender rig T-15 and T-16; the drillship West Auriga, West Vela, and West Capella. The Company provides drilling services on a dayrate contract basis.