Seadrill Partners LLC (NYSE:SDLP) is on recovery track with 5% gain from a 1-year low price of $1. The company lost -3.67% to attain the price of $1.05 on 02/06/2019. Throughout the recent session, the prices were hovering between $1.04 and $1.09. These shares are 138.1% off its target price of $2.5 and the current market capitalization stands at $88.68M. The recent change has given its price a -44.07% deficit over SMA 50 and -73.35% deficit over its 52-week high. The stock witnessed -43.55% declines, -69.03% declines and -70.83% 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 5.46% and during a month it has been found around 8.32%.
Oil prices rose on Wednesday, boosted by signs of strong U.S. demand for distillate products and tightening global crude supply. But gains were capped by a rising U.S. dollar and ongoing concerns about a global economic slowdown. U.S. West Texas Intermediate crude futures settled 35 cents higher at $54.01 a barrel on Wednesday, after posting a session low of $52.86.
U.S. government data on Wednesday showed that domestic crude inventories rose by less than expected last week even as refineries hiked output. Stocks gained by 1.3 million barrels in the week ended Feb. 1, compared with analysts’ expectations for an increase of 2.2 million barrels.
Gasoline stocks increased by 513,000 barrels, less than anticipated, while distillate stockpiles posted a larger-than-expected drop by 2.3 million barrels.
“Basically it’s a pretty supportive report,” said Phil Flynn, oil analyst at Price Futures Group in Chicago. “That drop in distillates is probably enough to give the entire report a more bullish tilt.
Market participants have already been focused on signs of tightening global crude supply after OPEC and allies began an agreement in January to cut output.
The producers known as OPEC+ started cutting production by 1.2 million barrels per day from last month to avert a new supply glut, and OPEC has delivered almost three quarters of its pledged cuts already, a Reuters survey showed last week.Seadrill Partners LLC (SDLP) Top Holders
Institutional investors currently hold around $15 million or 18.3% in SDLP stock. Look at its top three institutional owners. Strategic Value Partners, Llc owns $4.03 million in Seadrill Partners LLC, which represents roughly 4.55% of the company’s market cap and approximately 26.89% 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 $3.14 million. The third largest holder is Q Global Advisors, Llc, which currently holds $2.18 million worth of this stock and that ownership represents nearly 2.46% of its market capitalization.Seadrill Partners LLC 13F Filings
At the end of September reporting period, 23 institutional holders increased their position in Seadrill Partners LLC (NYSE:SDLP) by some 2,072,611 shares, 17 decreased positions by 460,205 and 15 held positions by 11,314,145. That puts total institutional holdings at 13,846,961 shares, according to SEC filings. The stock grabbed 7 new institutional investments totaling 261,416 shares while 7 institutional investors sold out their entire positions totaling 62,987 shares.