Seadrill Partners LLC (NYSE:SDLP) is on recovery track with 13.75% gain from a 1-year low price of $1.6. The company lost -2.67% to attain the price of $1.82 on 01/11/2019. Throughout the recent session, the prices were hovering between $1.77 and $1.86. These shares are 37.36% off its target price of $2.5 and the current market capitalization stands at $171.7M. The recent change has given its price a -27.7% deficit over SMA 50 and -55.39% deficit over its 52-week high. The stock witnessed -19.82% declines, -49.02% declines and -51.85% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found SDLP’s volatility during a week at 6.69% and during a month it has been found around 6.97%.
Reuters reported that Norwegian offshore drilling rig firm Seadrill Ltd said on Thursday that Chief Financial Officer Mark Morris will step down following completion of the company’s financial restructuring.
The company, controlled by Norwegian-born billionaire John Fredriksen, said it has begun a formal search process and that Morris will remain in the role until the end of June to make the transition possible.
Separately, Seadrill Partners said Morris would step down as chief executive officer of that firm at the end of June. Seadrill Partners is a limited liability company formed by Seadrill Ltd to own, operate and acquire offshore drilling rigs.
Seadrill said last July that it had successfully completed its reorganisation, emerging from U.S. Chapter 11 bankruptcy.
The company, once the world’s largest offshore driller by market capitalisation, was forced to seek protection from creditors when it was unable to repay debts amassed during boom years to buy new rigs.
Institutional investors currently hold around $25 million or 18.3% in SDLP stock. Look at its top three institutional owners. Strategic Value Partners, Llc owns $6.73 million in Seadrill Partners LLC, which represents roughly 3.92% of the company’s market cap and approximately 26.94% of the institutional ownership. Similar statistics are true for the second largest owner, Aristeia Capital Llc, which owns 2,881,328 shares of the stock are valued at $5.24 million. The third largest holder is Q Global Advisors, Llc, which currently holds $3.64 million worth of this stock and that ownership represents nearly 2.12% of its market capitalization.Seadrill Partners LLC 13F Filings
At the end of September reporting period, 24 institutional holders increased their position in Seadrill Partners LLC (NYSE:SDLP) by some 2,080,408 shares, 15 decreased positions by 458,875 and 16 held positions by 11,349,429. That puts total institutional holdings at 13,888,712 shares, according to SEC filings. The stock grabbed 7 new institutional investments totaling 264,742 shares while 5 institutional investors sold out their entire positions totaling 67,614 shares.