Seadrill (NYSE:SDRL) Reaches New 12-Month High – What’s Next?

Seadrill Limited (NYSE:SDRL)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $46.04 and last traded at $45.6540, with a volume of 272228 shares traded. The stock had previously closed at $44.18.

Wall Street Analysts Forecast Growth

SDRL has been the subject of several research reports. Weiss Ratings cut shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research cut Seadrill from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. BWS Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research report on Friday, January 23rd. Finally, Barclays lifted their price objective on Seadrill from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.00.

Seadrill Trading Down 2.8%

The company has a debt-to-equity ratio of 0.21, a current ratio of 2.03 and a quick ratio of 2.03. The business’s 50 day simple moving average is $40.86 and its 200 day simple moving average is $34.86. The stock has a market cap of $2.73 billion, a P/E ratio of -35.20 and a beta of 1.45.

Seadrill (NYSE:SDRL) last posted its earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The business had revenue of $362.00 million during the quarter, compared to the consensus estimate of $335.36 million. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%. On average, analysts expect that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seadrill

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

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.