Seadrill Ltd (NASDAQ:SDRL) – Research analysts at Seaport Global Securities decreased their FY2016 earnings per share estimates for Seadrill in a research report issued on Tuesday. Seaport Global Securities analyst M. Brown now expects that the brokerage will post earnings of $1.11 per share for the year, down from their previous estimate of $1.17. Seaport Global Securities also issued estimates for Seadrill’s Q4 2016 earnings at $0.09 EPS, Q1 2017 earnings at $0.03 EPS and Q2 2017 earnings at $0.02 EPS.
A number of other analysts have also recently weighed in on the stock. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $1.00 price objective on shares of Seadrill in a report on Monday, September 26th. Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Seadrill in a report on Thursday, September 22nd. Canaccord Genuity reaffirmed a “sell” rating on shares of Seadrill in a report on Wednesday, September 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $7.50 price objective on shares of Seadrill in a report on Wednesday, August 31st. Finally, Evercore ISI set a $2.00 price objective on shares of Seadrill and gave the stock a “sell” rating in a report on Sunday, August 28th. Five analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and a consensus target price of $3.05.
Shares of Seadrill (NASDAQ:SDRL) opened at 2.71 on Wednesday. The firm has a 50 day moving average of $2.37 and a 200 day moving average of $3.11. The stock’s market cap is $1.38 billion. Seadrill has a one year low of $1.57 and a one year high of $7.93.
Seadrill (NASDAQ:SDRL) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The business earned $868 million during the quarter.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Seadrill by 28.3% in the third quarter. BNP Paribas Arbitrage SA now owns 57,254 shares of the company’s stock worth $136,000 after buying an additional 12,646 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Seadrill by 108.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,832,542 shares of the company’s stock valued at $5,938,000 after buying an additional 951,806 shares during the last quarter. Numeric Investors LLC bought a new position in Seadrill during the second quarter valued at approximately $210,000. Paloma Partners Management Co boosted its position in Seadrill by 10.8% in the second quarter. Paloma Partners Management Co now owns 124,911 shares of the company’s stock valued at $405,000 after buying an additional 12,203 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Seadrill by 1,121.6% in the second quarter. Panagora Asset Management Inc. now owns 894,225 shares of the company’s stock valued at $2,888,000 after buying an additional 821,025 shares during the last quarter.
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 and deep water areas, as well as benign and harsh environments.
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