Morgan Stanley Downgrades Seadrill Ltd to Equal-weight

Brokerage firm Morgan Stanley Downgrades its rating on Seadrill Ltd(NYSE:SDRL). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jul 26, 2016.

Seadrill Ltd (SDRL) shares turned negative on Fridays trading session with the shares closing down -0.03 points or -1.00% at a volume of 77,86,445. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.04. The peak price level was also seen at $3.04 while the days lowest was $2.9. Finally the shares closed at $2.97. The 52-week high of the shares is $9.79 while the 52-week low is $1.57. According to the latest information available, the market cap of the company is $1,463 M.

Seadrill Ltd(SDRL) last announced its earnings results on May 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $891.00M. Analysts had an estimated revenue of $890.26M. Earnings per share were $0.26. Analysts had estimated an EPS of $0.39.

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. The Company has three operating segments: Floaters Jack-ups rigs and Other. The Company’s Floaters segment includes drillships and semi-submersible rigs. The Company’s Jack-ups rigs segment includes jack-up rigs. The Company’s Other segment consists primarily of rig management services. The Company through its subsidiaries owns and operates its offshore drilling units and makes investments in other offshore drilling and oil services companies. Its subsidiaries include North Atlantic Drilling Ltd Sevan Drilling ASA and Asia Offshore Drilling. It owns and operates approximately 43 offshore drilling units and has 16 offshore drilling units under construction.

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