What Are Analysts’ Recommendations for Seadrill?
For Seadrill, two analysts recommended a “buy” and two recommended a “hold.” Five analysts recommended a “sell” and one recommended a “strong sell.”
Analysts expect Seadrill’s EBITDA to fall 20% in 1Q17. Analysts estimate that its 1Q17 EBITDA will be $257 million—compared to $354 million in 4Q16.
Analysts expect Seadrill’s (SDRL) revenue to be just over $546 million in 1Q17—an 18% fall from its 4Q16 revenue of $667 million and a fall of 38% YoY.
Seadrill’s (SDRL) stock price fell more than 84% from the beginning of 2017 to May 18, 2017. The stock fell more than other offshore drillers.
Seadrill will release its 1Q17 results on May 24. In 4Q16, Seadrill’s revenue was $667 million—nearly 10% lower than revenue of $743 million in 3Q16.
Atwood Oceanics’ total debt at the end of fiscal 2Q17 remained flat at $1.3 billion. The company had cash on hand of $435 million as of March 31, 2017.
Atwood Oceanics’ capex totaled $17 million in fiscal 2Q17, as compared to $139 million in fiscal 1Q17.
Atwood Oceanics’ (ATW) drilling expenses, excluding reimbursable costs, fell to $64 million in fiscal 2Q17 from $66 million in the previous quarter.
On March 31, 2017, Atwood Oceanics (ATW) had a backlog of $400 million, which was ~60% lower than the $1 billion it reported on March 31, 2016.
Atwood Oceanics’ (ATW) fiscal 2Q17 revenue was $168 million, which represents a rise of 6% from the $158 million reported in the previous quarter.
Due to the recent trend in demand for jack-ups and floaters, Atwood Oceanics feels that the downturn is near its bottom.
Noble Corporation (NE) maintained its 2017 capex guidance of $115.0 million ($39.0 million in major projects and $76.0 million in sustaining capital).
On May 8, 2017, UBS reduced Noble”s (NE) target price to $5.50 from $8. On May 5, Jefferies reduced its target price to $7.50 from $8.50.
Noble Corporation’s (NE) drilling expense-to-revenue ratio fell from 47.0% in 4Q16 to 45.0% in 1Q17. However, the ratio rose from 42.0% in 1Q16.
Noble Corporation’s (NE) contract drilling revenue was $354.0 million in 1Q17 compared to $591.0 million in the same period last year.
On March 31, 2017, Noble Corporation (NE) had a backlog of $3.5 billion compared to $3.3 billion at the end of the previous quarter.
Noble (NE) released its 1Q17 results on Friday, May 5, 2017. Revenue fell 11.7% to $362.0 million, from $410.0 million in the previous quarter.
Rowan is one of the most popular offshore drilling companies. It’s covered by 35 analysts, and its consensus rating is 2.86, which means a “hold.”
As of March 31, 2017, Rowan Companies (RDC) had a backlog of $1.46 billion, as compared to $1.7 billion in February 2017 and $3.1 billion one year ago.
In 1Q17, Rowan Companies’ (RDC) capex totaled $30.9 million. It increased ts full-year capex guidance to $120 million–$130 million.