Zacks Investment Research upgraded shares of North Atlantic Drilling Ltd. (NYSE:NADL) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $3.75 price objective on the stock.
According to Zacks, “North Atlantic Drilling Ltd offers harsh environment offshore drilling services to the oil and gas industry primarily in Norway and the United Kingdom. The company provides drillships, semi-submersibles, jack-ups, harsh environment and ultra-deepwater units. North Atlantic Drilling Ltd is based in Hamilton, Bermuda. “
Separately, Evercore ISI set a $2.00 price target on shares of North Atlantic Drilling and gave the stock a sell rating in a research note on Wednesday, September 28th.
Shares of North Atlantic Drilling (NYSE:NADL) traded down 0.57% during trading on Tuesday, reaching $3.30. 28,414 shares of the company were exchanged. The stock has a 50-day moving average price of $3.41 and a 200-day moving average price of $3.51. North Atlantic Drilling has a one year low of $1.47 and a one year high of $8.08. The stock’s market capitalization is $79.58 million.
North Atlantic Drilling (NYSE:NADL) last released its quarterly earnings results on Tuesday, November 22nd. The company reported ($0.67) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.18) by $0.51. North Atlantic Drilling had a negative net margin of 21.57% and a negative return on equity of 10.83%. Analysts forecast that North Atlantic Drilling will post ($2.28) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its position in North Atlantic Drilling by 107.0% in the third quarter. Acrospire Investment Management LLC now owns 34,169 shares of the company’s stock worth $104,000 after buying an additional 17,659 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in North Atlantic Drilling during the second quarter worth approximately $127,000. Acadian Asset Management LLC boosted its position in North Atlantic Drilling by 88.0% in the third quarter. Acadian Asset Management LLC now owns 45,841 shares of the company’s stock worth $139,000 after buying an additional 21,453 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of North Atlantic Drilling during the second quarter worth about $187,000. Finally, Credit Suisse AG boosted its stake in shares of North Atlantic Drilling by 58.2% in the third quarter. Credit Suisse AG now owns 70,866 shares of the company’s stock worth $215,000 after buying an additional 26,074 shares during the period. 6.89% of the stock is owned by institutional investors and hedge funds.
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