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

Seadrill Limited (NYSE:SDRL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.85 and last traded at $43.6880, with a volume of 756 shares changing hands. The stock had previously closed at $42.50.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BTIG Research increased their price target on shares of Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Zacks Research cut Seadrill from a “hold” rating to a “strong sell” rating in a report on Monday. Citigroup downgraded Seadrill from a “neutral” rating to a “sell” rating and lowered their target price for the company from $35.00 to $32.00 in a research report on Monday, January 12th. Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. Finally, Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.80.

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 stock has a 50 day simple moving average of $36.71 and a 200-day simple moving average of $32.97. The firm has a market cap of $2.76 billion, a PE ratio of 96.07 and a beta of 1.54.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in Seadrill by 554.6% in the second quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock worth $1,812,000 after purchasing an additional 58,467 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Seadrill by 498.2% during the second quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after purchasing an additional 512,074 shares during the last quarter. Monaco Asset Management SAM grew its stake in shares of Seadrill by 7.5% in the 2nd quarter. Monaco Asset Management SAM now owns 215,000 shares of the oil and gas company’s stock worth $5,644,000 after buying an additional 15,000 shares in the last quarter. Packer & Co Ltd bought a new stake in shares of Seadrill in the 3rd quarter worth about $13,597,000. Finally, Creative Planning increased its holdings in shares of Seadrill by 302.9% in the 2nd quarter. Creative Planning now owns 114,482 shares of the oil and gas company’s stock worth $3,005,000 after buying an additional 86,069 shares during the last quarter. 95.67% of the stock is 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.