Seadrill (NYSE:SDRL) announced its quarterly earnings results on Thursday. The oil and gas company reported ($2.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.31) by ($0.64), Morningstar.com reports. The firm had revenue of $302.00 million for the quarter, compared to analysts’ expectations of $279.00 million. The company’s quarterly revenue was up 6.1% on a year-over-year basis.
Shares of SDRL opened at $5.50 on Friday. Seadrill has a fifty-two week low of $5.20 and a fifty-two week high of $26.72. The company has a debt-to-equity ratio of 2.34, a quick ratio of 5.96 and a current ratio of 5.96.
A number of institutional investors and hedge funds have recently made changes to their positions in SDRL. Wells Fargo & Company MN increased its position in Seadrill by 1,075.0% in the first quarter. Wells Fargo & Company MN now owns 3,243 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 2,967 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Seadrill in the first quarter worth $28,000. Parametric Portfolio Associates LLC purchased a new position in Seadrill during the first quarter worth $84,000. NumerixS Investment Technologies Inc purchased a new position in Seadrill during the fourth quarter worth $94,000. Finally, Virtu Financial LLC purchased a new stake in shares of Seadrill during the first quarter valued at $95,000. Institutional investors own 9.12% of the company’s stock.
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Seadrill Ltd. is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of drillships, semi-submersible rigs, jack-up rigs, tender rigs for operations in shallow, mid, deep, and ultra deep-water areas, and in benign and harsh environments.
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