Agency Places ‘Hold’ Rating On Seadrill

March 17, 2012

Analysts at Dahlman Rose rated shares of Bermuda’s SeaDrill Limited as a “Hold” on Friday [Mar.16].

Previously the ratings agency attached a ” Buy” to the company’s stock when it was priced at $29.62 in August, 2011. Since then, SeaDrill Limited has gained 28.80% as of Friday’s price of $38.15.

Seadrill Limited, an offshore drilling contractor, provides drilling and well services worldwide. Its fleet comprises harsh-environment semi-submersibles, heavy duty jack-ups, shallow water tender rigs, and deep water drillships.

The company also offers platform drilling, well intervention, and engineering services. It has an interest in more than 40 offshore drilling units, including 11 units under construction.

The company was founded in 1972 and is based in Hamilton.

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