Seadrill Ltd (SDRL) Releases Earnings Results, Beats Expectations By $0.11 EPS

Seadrill Ltd (NASDAQ:SDRL) issued its quarterly earnings data on Wednesday, May 24th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11, Morningstar.com reports. The business had revenue of $569 million for the quarter, compared to analyst estimates of $584.11 million.

Seadrill (SDRL) traded up 3.9331% on Friday, hitting $0.4413. 6,006,030 shares of the company were exchanged. Seadrill has a 52 week low of $0.41 and a 52 week high of $4.59. The company has a 50 day moving average price of $0.54 and a 200-day moving average price of $1.76. The stock’s market capitalization is $222.61 million.

Earnings History for Seadrill (NASDAQ:SDRL)

A number of brokerages have recently issued reports on SDRL. Societe Generale cut shares of Seadrill from a “hold” rating to a “sell” rating in a report on Wednesday, May 31st. Zacks Investment Research cut shares of Seadrill from a “hold” rating to a “sell” rating in a report on Tuesday, March 7th. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Seadrill currently has a consensus rating of “Sell” and a consensus price target of $3.50.

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Large investors have recently modified their holdings of the company. State Street Corp raised 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 worth $25,052,000 after buying an additional 433,678 shares during the last quarter. Capital Guardian Trust Co. acquired a new stake in shares of Seadrill during the fourth quarter worth $21,852,000. Two Sigma Investments LP raised its stake in shares of Seadrill by 146.8% in the fourth quarter. Two Sigma Investments LP now owns 2,281,537 shares of the company’s stock worth $7,790,000 after buying an additional 1,357,145 shares during the last quarter. Dimensional Fund Advisors LP raised 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 worth $5,688,000 after buying an additional 46,066 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its stake in shares of Seadrill by 1.0% in the third quarter. BlackRock Investment Management LLC now owns 1,579,150 shares of the company’s stock worth $3,743,000 after buying an additional 16,403 shares during the last quarter.

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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