In a report issued on November 19, Magnus Olsvik from Kepler Capital maintained a Hold rating on Shelf Drilling (SHLLF – Research Report), with a price target of NOK3.00. The company’s shares closed last Monday at $0.23, close to its 52-week low of $0.23.
According to TipRanks.com, Olsvik is ranked #5806 out of 7100 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for Shelf Drilling with a $0.33 average price target.
Based on Shelf Drilling’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $155 million and net profit of $8.11 million. In comparison, last year the company earned revenue of $137 million and had a GAAP net loss of $29.67 million.
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Shelf Drilling Ltd operates as a shallow water offshore drilling contractor. The company is engaged in the drilling and completion of exploratory and developmental offshore oil and natural gas wells. Geographically, it derives a majority of revenue from Saudi Arabia and also has a presence in Thailand; Nigeria; United Arab Emirates; India and Other Countries.