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Research analysts at Cowen and Company decreased their price objective on shares of Seadrill (NASDAQ:SDRL) from $36.00 to $32.00 in a report released on Thursday. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target would suggest a potential downside of 12.64% from the company’s current price.

Seadrill (NASDAQ:SDRL) traded up 0.23% on Thursday, hitting $36.715. The stock had a trading volume of 606,614 shares. Seadrill has a one year low of $32.40 and a one year high of $48.09. The stock has a 50-day moving average of $37.16 and a 200-day moving average of $36.46. The company has a market cap of $17.224 billion and a price-to-earnings ratio of 3.38. Seadrill also was the target of some unusual options trading activity on Wednesday. Stock investors acquired 7,612 put options on the company. This is an increase of approximately 243% compared to the typical volume of 2,217 put options.

Seadrill (NASDAQ:SDRL) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $1.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.50. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company posted $0.78 earnings per share. Seadrill’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Seadrill will post $3.01 earnings per share for the current fiscal year.

SDRL has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Seadrill in a research note on Monday, August 4th. They now have a $36.00 price target on the stock, down previously from $40.00. Separately, analysts at Zacks upgraded shares of Seadrill from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $37.40 price target on the stock. Finally, analysts at Global Hunter Securities downgraded shares of Seadrill from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 30th. They now have a $37.00 price target on the stock, down previously from $41.00. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. Seadrill presently has an average rating of “Hold” and an average price target of $41.26.

Seadrill Limited an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry.

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