Seadrill (NYSE:SDRL) Posts Earnings Results

Seadrill (NYSE:SDRL) released its earnings results on Tuesday. The oil and gas company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.68), FiscalAI reports. The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $382.66 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%.

Seadrill Price Performance

Shares of NYSE:SDRL traded down $1.45 during midday trading on Tuesday, hitting $46.28. The company had a trading volume of 629,700 shares, compared to its average volume of 779,531. Seadrill has a twelve month low of $28.10 and a twelve month high of $55.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 1,542.73 and a beta of 1.25. The business’s 50-day simple moving average is $47.81 and its 200-day simple moving average is $45.00.

Wall Street Analyst Weigh In

Several research firms recently commented on SDRL. BWS Financial reissued a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research note on Wednesday, October 14th. Zacks Research cut shares of Seadrill from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Weiss Ratings raised shares of Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Seadrill in a report on Monday, September 7th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $59.40.

Seadrill Company Profile

Seadrill Limited (NYSE: SDRL) is an offshore drilling contractor that provides drilling services to oil and gas companies. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs, which are used to explore for and develop hydrocarbon resources beneath the seabed.

Seadrill’s services include contract drilling, rig operations, well construction support and related offshore services. Its modern, high-specification fleet is designed to work in challenging deepwater and harsh-environment locations.