Seadrill (NYSE:SDRL) Stock Price Down 3.9% – Here’s Why

Seadrill Limited (NYSE:SDRL)’s stock price traded down 3.9% during mid-day trading on Monday . The stock traded as low as $42.73 and last traded at $43.0760. Approximately 159,518 shares were traded during mid-day trading, a decline of 81% from the average session volume of 834,024 shares. The stock had previously closed at $44.84.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SDRL shares. BTIG Research boosted their price target on shares of Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Citigroup lifted their price target on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $59.00 in a research note on Thursday, May 7th. Finally, Capital One Financial set a $55.00 price target on Seadrill and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Seadrill Stock Down 0.3%

The company has a market capitalization of $2.66 billion, a PE ratio of -37.91 and a beta of 1.21. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $42.36 and a 200 day moving average of $43.87.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%.The business had revenue of $358.00 million for the quarter, compared to analyst estimates of $326.75 million. Equities research analysts anticipate that Seadrill Limited will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Seadrill in the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Seadrill during the second quarter worth approximately $42,000. Aquatic Capital Management LLC acquired a new stake in Seadrill in the third quarter valued at approximately $44,000. CIBC Private Wealth Group LLC acquired a new stake in Seadrill in the third quarter valued at approximately $61,000. Finally, Farther Finance Advisors LLC lifted its stake in Seadrill by 20.2% in the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after acquiring an additional 422 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

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.