Seadrill (NYSE:SDRL) Issues Quarterly Earnings Results

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

Seadrill Stock Performance

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

Institutional Investors Weigh In On Seadrill

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in shares of Seadrill by 23.1% during the second quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock valued at $1,012,000 after acquiring an additional 7,233 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Seadrill in the second quarter valued at $42,000. Federated Hermes Inc. raised its position in Seadrill by 394,614.3% during the 2nd quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock worth $5,802,000 after purchasing an additional 220,984 shares during the last quarter. Cerity Partners LLC acquired a new position in Seadrill during the 2nd quarter worth about $696,000. Finally, Sei Investments Co. bought a new stake in shares of Seadrill in the 2nd quarter valued at about $375,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SDRL shares. Weiss Ratings downgraded shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Citigroup cut Seadrill from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $35.00 to $32.00 in a report on Monday, January 12th. Barclays set a $39.00 price objective on shares of Seadrill in a report on Wednesday, February 18th. Finally, Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.80.

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.