Seadrill Ltd (NASDAQ:SDRL) has received an average recommendation of “Sell” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $2.75.
SDRL has been the subject of several research reports. Societe Generale cut shares of Seadrill from a “hold” rating to a “sell” rating in a research note on Wednesday, May 31st. Zacks Investment Research upgraded shares of Seadrill from a “hold” rating to a “buy” rating and set a $0.50 target price for the company in a research note on Tuesday, June 20th.
A number of hedge funds and other institutional investors have recently made changes to their positions in SDRL. State Street Corp increased its stake in shares of Seadrill by 6.3% in the fourth quarter. State Street Corp now owns 7,346,078 shares of the company’s stock valued at $25,052,000 after buying an additional 433,678 shares in the last quarter. Shah Capital Management increased its stake in shares of Seadrill by 36.3% in the second quarter. Shah Capital Management now owns 7,089,967 shares of the company’s stock valued at $2,556,000 after buying an additional 1,887,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Seadrill by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,667,982 shares of the company’s stock valued at $5,688,000 after buying an additional 46,066 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Seadrill by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 272,698 shares of the company’s stock valued at $930,000 after buying an additional 7,733 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Seadrill by 170.4% in the fourth quarter. AQR Capital Management LLC now owns 117,802 shares of the company’s stock valued at $403,000 after buying an additional 74,241 shares in the last quarter.
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Shares of Seadrill (NASDAQ SDRL) traded up 2.819% during mid-day trading on Friday, reaching $0.383. The company had a trading volume of 5,055,866 shares. Seadrill has a 52-week low of $0.33 and a 52-week high of $4.59. The company’s 50-day moving average price is $0.41 and its 200-day moving average price is $1.15. The company’s market capitalization is $193.20 million.
Seadrill (NASDAQ:SDRL) last released its earnings results on Wednesday, May 24th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.11. Seadrill had a net margin of 10.02% and a return on equity of 2.69%. The business had revenue of $569 million during the quarter, compared to analysts’ expectations of $584.11 million. On average, analysts forecast that Seadrill will post ($0.13) earnings per share for the current fiscal year.
About Seadrill
Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow-, mid-, deep-, and ultra deepwater areas, and in benign and harsh environments.
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