Seadrill stock jumps on report of talks with Transocean
Shares of Seadrill rallied early Thursday after a report the offshore drilling company is in talks to merge with Transocean.
Seadrill: Potential M&A, Industry Tailwinds Will Support Growth Acceleration
Initiating coverage on Seadrill Limited with a "Buy" rating and a 12-18 month investment horizon due to attractive valuation and positive industry tailwinds. Positive industry outlook driven by expected higher oil prices, expansionary monetary policies, and increasing investments in deepwater drilling projects. Strong fundamentals with high financial flexibility, low leverage, and significant cash flow visibility support potential acquisitions and organic growth.
Seadrill Q2 2024: Mixed Results, Exacerbated By A Lowered Guidance, Reiterate Buy
Seadrill reporting mixed earnings results, coupled with a lowered guidance, put pressure on the stock price. Demand has not yet materialized into more contract awards. This is attributed to several reasons, including a supply chain issue. These headwinds are likely to resolve in 2H25. Market fundamentals remain supportive of day rates. Benign floater marketed utilization rate was at 86% despite reactivations. We believe incremental demand will be sufficient to absorb stranded capacity.
Seadrill (SDRL) Surpasses Q2 Earnings and Revenue Estimates
Seadrill (SDRL) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $1.16 per share a year ago.
Seadrill: Re-Contracting At Higher Dayrates Will Drive The Stock Price
Seadrill is an offshore drilling company focusing on the floater market, with its fleet primarily located in the Deepwater Golden Triangle. Demand for offshore rigs will remain robust due to high oil prices thanks to extended OPEC+ cuts, the growing petrochemical sector, and EV hiccups. Offshore projects will be highly demanded given improved economics. The market will remain undersupplied as newbuilding prices and reactivation cost a fortune.
Seadrill (SDRL) Divests Three Jack-up Rigs and JV Interest
Seadrill (SDRL) concludes the sale of the West Castor, the West Telesto and the West Tucana jackup rigs operating offshore Qatar, for cash proceeds of $338 million.
Seadrill (SDRL) Initiates Qatar Jack-Up Fleet Sale for $338M
Seadrill (SDRL) mentions that the divestiture aligns with its overall strategy to simplify its business and concentrate only on its core operations.
Wall Street Analysts Believe Seadrill (SDRL) Could Rally 29.98%: Here's is How to Trade
The mean of analysts' price targets for Seadrill (SDRL) points to a 30% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
