Seadrill Ltd (NYSE:SDRL) shares are trading high to new peaks


Dallas, Texas 09/04/2013 (Financialstrend) – In the recent second quarter results for the fiscal year 2013, Seadrill Ltd (NYSE:SDRL) had reported the highest profit ever with net income at $1.73 billion or at $3.68 per share, thereby managing to beat down the expectations of the analysts. The company had reported revenues at $1.27 billion, compared to the analyst expectations at $1.15 billion and the revenues for the same quarter of previous year at $1.12 billion. It is worth noting that the net profits reported for the second quarter also included the proceeds from the one time sale of 18 tender rigs in the month of April for an aggregate value of $1.26 billion. The analysts were however, expecting the company to present profits at $334 million, excluding this onetime gain.

The quarterly dividend for the shareholders of Seadrill Ltd (NYSE:SDRL) was observed to be at $0.91 per share, compared to the dividends paid at $0.84 per share for the second quarter of fiscal year 2013. The utilization rate for the floating drillship and semi submersible rigs were observed to be at the level of 94%. Further, the utilization rate for the jack up rigs had declined marginally to the level of 98% for the second quarter.

Seadrill Ltd (NYSE:SDRL) presented gain in share prices on Tuesday to close at $47.02 per share which was an increase of 1.64% over previous close. The intraday prices of the stock moved in the range of $46.67 to $47.08 per share and the 52 week prices are at low of $34.57 and high of $47.08 per share. The stock on Tuesday reported trading volume of 2.70 million shares and the average level is at 1.75 million shares per day. Presently the company has 469.09 million shares traded in the market with institutional ownership at 38%.