Seadrill Partners (NYSE:SDRL) Receives a Downgrade
In a recent report issued to clients and investors on 18 December, Seaport Global Securities downgraded shares of Seadrill Partners (NYSE:SDRL) to a lower Neutral rating from the previous Buy rating.
From a total of 13 analysts covering Seadrill (NYSE:SDRL) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $18.84 while the lowest target price is $3.5. The mean of all analyst targets is $8.21 with a 144.59% above today’s ($3.79) stock price. Seadrill was the topic of 14 analyst reports since August 20, 2015 according to the firm StockzIntelligence Inc. Oppenheimer downgraded shares on November 30 to “Perform” rating. Howard Weil maintained shares with “Sector Perform” rating and $11.0 target share price in a report from a September 1. Canaccord Genuity maintained SDRL stock in a recent report from September 2 with “Sell” rating. Bank of America maintained the rating on August 29. Bank of America has a “Neutral” rating and a $10.50 price target on shares. Finally, Scotia Capital maintained the stock with “Sector Perform” rating in a report issued on a September 1.
Approximately 428,580 shares of stock traded hands. Seadrill Ltd (NYSE:SDRL) has declined 72.29% since May 15, 2015 and is downtrending. It has underperformed by 68.48% the S&P500.
Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the gas and oil industry. The company has a market cap of $2.04 billion. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for activities in shallow and deep water areas, as well as benign and harsh environments. It has 1.68 P/E ratio. The Firm has three operating divisions: Floaters, Jack-ups rigs and Other.
According to Zacks Investment Research, “Seadrill Limited is an international offshore drilling contractor providing drilling and well services. Seadrill’s versatile fleet includes harsh-environment semi-submersibles, jack-ups, shallow and deep water tender rigs and deepwater drill ships. In addition, the Company provides platform drilling, well intervention and engineering services. Seadrill Limited is based in Hamilton, Bermuda.”