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Why SeaDrill (SDRL) Stock Is Down Today

NEW YORK (TheStreet) -- SeaDrill (SDRL - Get Report) fell Wednesday after the offshore drilling company reported mixed second-quarter earnings and issued a cautious outlook.

The company reported diluted earnings per share of $1.24 on revenue of $1.22 billion, down year-over-year from $3.53 on revenues of $1.27 billion. A one-time asset sale boosted the year-ago figures. The consensus estimate from analysts polled by Thomson Reuters called for EPS of 74 cents on revenue of $1.28 billion.

Seadrill said it would maintain its quarterly dividend of $1 a share into 2016 even if the rig market does not recover, but said it would not order any new rigs until the rig market clarifies. The company has 18 rigs that have not been delivered yet.

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The stock was down 3.37% to $36.50 at 11:11 a.m. More than 4.2 million shares had changed hands, which edged the average volume of 4,073,490.

Separately, TheStreet Ratings team rates SEADRILL LTD as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate SEADRILL LTD (SDRL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, notable return on equity, good cash flow from operations, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

You can view the full analysis from the report here: SDRL Ratings Report

SDRL Chart SDRL data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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