Seadrill (NYSE:SDRL) Reaches New 1-Year High – Here’s Why

Shares of Seadrill Limited (NYSE:SDRL) reached a new 52-week high on Friday . The stock traded as high as $40.35 and last traded at $39.55, with a volume of 422844 shares. The stock had previously closed at $38.04.

Analysts Set New Price Targets

Several research firms have recently commented on SDRL. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. Citigroup cut shares of Seadrill from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $35.00 to $32.00 in a research note on Monday, January 12th. BTIG Research raised their price objective on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Seadrill has a consensus rating of “Hold” and an average target price of $43.60.

Seadrill Price Performance

The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $34.63 and its 200-day moving average price is $32.09. The stock has a market capitalization of $2.49 billion, a PE ratio of 86.78 and a beta of 1.54.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.43). Seadrill had a return on equity of 0.10% and a net margin of 2.49%.The company had revenue of $363.00 million during the quarter, compared to analysts’ expectations of $343.56 million. On average, equities analysts forecast that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill during the second quarter valued at approximately $42,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill during the third quarter valued at approximately $44,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Seadrill in the third quarter worth approximately $61,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Seadrill by 19.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 343 shares during the last quarter. Institutional investors own 95.67% of the company’s stock.

Seadrill Company Profile

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.