ValuEngine Upgrades Seadrill (NYSE:SDRL) to “Hold”

Seadrill (NYSE:SDRL) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

SDRL stock traded down $0.56 during mid-day trading on Thursday, hitting $3.22. 1,394,819 shares of the company were exchanged, compared to its average volume of 652,489. The business has a 50 day simple moving average of $3.98. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.46. Seadrill has a 1-year low of $3.00 and a 1-year high of $26.72.

Seadrill (NYSE:SDRL) last issued its quarterly earnings data 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. Seadrill’s quarterly revenue was up 6.1% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new stake in Seadrill during the first quarter worth approximately $28,000. Cullen Frost Bankers Inc. lifted its position in Seadrill by 17.7% during the first quarter. Cullen Frost Bankers Inc. now owns 39,345 shares of the oil and gas company’s stock worth $327,000 after acquiring an additional 5,927 shares during the last quarter. DNB Asset Management AS lifted its position in Seadrill by 2.3% during the first quarter. DNB Asset Management AS now owns 502,325 shares of the oil and gas company’s stock worth $4,174,000 after acquiring an additional 11,149 shares during the last quarter. Virtu Financial LLC acquired a new stake in Seadrill during the first quarter worth approximately $95,000. Finally, Royal London Asset Management Ltd. lifted its position in Seadrill by 8.3% during the first quarter. Royal London Asset Management Ltd. now owns 156,163 shares of the oil and gas company’s stock worth $1,299,000 after acquiring an additional 11,999 shares during 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.

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

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