Seadrill Limited (NYSE:SDRL) Sees Significant Decline in Short Interest

Seadrill Limited (NYSE:SDRL) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 4,917,048 shares, a decrease of 13.0% from the January 29th total of 5,649,322 shares. Currently, 7.9% of the company’s stock are short sold. Based on an average daily volume of 1,340,098 shares, the days-to-cover ratio is presently 3.7 days. Based on an average daily volume of 1,340,098 shares, the days-to-cover ratio is presently 3.7 days. Currently, 7.9% of the company’s stock are short sold.

Seadrill Stock Performance

Shares of NYSE:SDRL traded up $1.35 during mid-day trading on Thursday, reaching $43.75. The company had a trading volume of 1,063,885 shares, compared to its average volume of 1,009,608. The company’s 50-day moving average price is $38.67 and its 200-day moving average price is $33.81. Seadrill has a one year low of $17.74 and a one year high of $45.90. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -35.27 and a beta of 1.45. The company has a current ratio of 2.03, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last issued its earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $362.00 million for the quarter, compared to analyst estimates of $335.36 million. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%. As a group, equities research analysts anticipate that Seadrill will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SDRL shares. BTIG Research upped their price target on Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Barclays lifted their price objective on shares of Seadrill from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday. Citigroup upgraded shares of Seadrill from a “sell” rating to a “neutral” rating and increased their target price for the company from $32.00 to $46.00 in a report on Thursday. Zacks Research cut shares of Seadrill from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Finally, Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.00.

Hedge Funds Weigh In On Seadrill

Several large investors have recently modified their holdings of SDRL. Raymond James Financial Inc. bought a new position in Seadrill in the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Seadrill during the second quarter worth $42,000. Aquatic Capital Management LLC purchased a new stake in shares of Seadrill during the third quarter worth $44,000. CIBC Private Wealth Group LLC bought a new position in shares of Seadrill in the third quarter worth $61,000. Finally, Farther Finance Advisors LLC grew its position in shares of Seadrill by 19.7% in the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

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.