Seadrill (NYSE:SDRL) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Seadrill (NYSE:SDRL) from a sell rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

NYSE SDRL traded down $0.56 on Thursday, hitting $3.22. 1,394,819 shares of the stock were exchanged, compared to its average volume of 700,592. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.46. The business has a fifty day simple moving average of $3.98. Seadrill has a 52 week low of $3.00 and a 52 week high of $26.72.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Thursday, May 23rd. The oil and gas company reported ($2.95) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.31) by ($0.64). The business had revenue of $302.00 million for the quarter, compared to analysts’ expectations of $279.00 million. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year.

Several large investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new position in shares of Seadrill in the first quarter valued at $28,000. Cullen Frost Bankers Inc. grew its stake in shares of Seadrill by 17.7% in the first quarter. Cullen Frost Bankers Inc. now owns 39,345 shares of the oil and gas company’s stock valued at $327,000 after acquiring an additional 5,927 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Seadrill by 2.3% in the first quarter. DNB Asset Management AS now owns 502,325 shares of the oil and gas company’s stock valued at $4,174,000 after acquiring an additional 11,149 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Seadrill in the first quarter valued at about $95,000. Finally, Royal London Asset Management Ltd. grew its stake in shares of Seadrill by 8.3% in the first quarter. Royal London Asset Management Ltd. now owns 156,163 shares of the oil and gas company’s stock valued at $1,299,000 after acquiring an additional 11,999 shares in the last quarter. Hedge funds and other institutional investors own 8.89% of the company’s stock.

About Seadrill

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.

Featured Article: What is an SEC Filing?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Seadrill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seadrill and related companies with MarketBeat.com's FREE daily email newsletter.