Seadrill (NYSE:SDRL) Posts Earnings Results, Beats Estimates By $0.05 EPS

Seadrill (NYSE:SDRL) announced its earnings results on Wednesday. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05, Zacks reports. Seadrill had a return on equity of 0.10% and a net margin of 2.49%.

Seadrill Stock Performance

Shares of NYSE SDRL remained flat at $45.19 during midday trading on Wednesday. The stock had a trading volume of 937,667 shares, compared to its average volume of 1,002,432. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. Seadrill has a 52-week low of $17.74 and a 52-week high of $45.90. The company’s 50 day moving average is $37.26 and its 200 day moving average is $33.24. The company has a market capitalization of $2.82 billion, a P/E ratio of 98.24 and a beta of 1.54.

Analyst Ratings Changes

SDRL has been the topic of a number of analyst reports. Zacks Research lowered shares of Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Barclays set a $39.00 target price on shares of Seadrill in a report on Wednesday, February 18th. Weiss Ratings downgraded Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. BWS Financial restated a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Friday, January 23rd. Finally, BTIG Research lifted their target price on Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Seadrill currently has an average rating of “Hold” and a consensus target price of $44.80.

Institutional Trading of Seadrill

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of Seadrill in the second quarter valued at $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Seadrill during the second quarter worth about $42,000. Aquatic Capital Management LLC acquired a new stake in shares of Seadrill in the 3rd quarter worth about $44,000. CIBC Private Wealth Group LLC bought a new position in Seadrill in the 3rd quarter valued at about $61,000. Finally, Osaic Holdings Inc. boosted its stake in Seadrill by 18.8% during the 2nd quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 558 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

Seadrill Company Profile

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.