Brokerage firm Morgan Stanley Downgrades its rating on Seadrill Partners LLC(NYSE:SDLP). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jul 26, 2016.
Seadrill Partners LLC (SDLP) made into the market gainers list on Fridays trading session with the shares advancing 4.51% or 0.18 points. Due to strong positive momentum, the stock ended at $4.17, which is also near the day’s high of $4.2. The stock began the session at $4.02 and the volume stood at 12,48,171 shares. The 52-week high of the shares is $13.36 and the 52 week low is $1.7. The company has a current market capitalization of $383 M and it has 9,18,21,600 shares in outstanding.
Seadrill Partners LLC(SDLP) last announced its earnings results on May 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $444.00M. Analysts had an estimated revenue of $426.00M. Earnings per share were $0.49. Analysts had estimated an EPS of $1.02.
Seadrill Partners LLC owns operates and acquires offshore drilling rigs. The Company’s 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 Company’s 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.