Offshore Drillers Decline After Seadrill Suspends Dividend (SDRL) (RIG) (DO) (NADL)
Get Alerts SDRL Hot Sheet
Price: $49.61 +1.47%
Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 9.2%
Revenue Growth %: +37.4%
Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 9.2%
Revenue Growth %: +37.4%
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Offshore drillers were weak early on Wednesday after Seadrill Ltd. (NYSE: SDRL) said its was suspending its dividend distributions and focusing on debt reduction due to significant deterioration in the broader markets. Peers Transocean (NYSE: RIG), Diamond Offshore Drilling (NYSE: DO), and North Atlantic Drilling Ltd. (NYSE: NADL) moved lower.
Other peers include Noble Corp (NYSE: NE) and Ensco plc (NYSE: ESV), Ocean Rig UDW (NASDAQ: ORIG), Hercules Offshore (NASDAQ: HERO), and Pacific Drilling S.A. (NYSE: PACD).
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