Seadrill (NYSE:SDRL) Shares Gap Up – Here’s Why

Seadrill Limited (NYSE:SDRL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $39.90, but opened at $41.81. Seadrill shares last traded at $41.0280, with a volume of 678,731 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on SDRL shares. Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Barclays lifted their price objective on Seadrill from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. BWS Financial reiterated a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Friday, January 23rd. Finally, Citigroup downgraded shares of Seadrill from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $35.00 to $32.00 in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.60.

Seadrill Stock Performance

The business’s fifty day moving average price is $35.22 and its 200-day moving average price is $32.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.89 and a quick ratio of 1.89. The stock has a market capitalization of $2.68 billion, a PE ratio of 93.44 and a beta of 1.54.

Hedge Funds Weigh In On Seadrill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill in the second quarter worth approximately $42,000. Aquatic Capital Management LLC purchased a new stake in Seadrill in the third quarter valued at approximately $44,000. CIBC Private Wealth Group LLC bought a new stake in Seadrill during the third quarter valued at approximately $61,000. Finally, Farther Finance Advisors LLC grew its stake in Seadrill by 19.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after buying an additional 343 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

About Seadrill

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.