Seadrill (NYSE:SDRL) Sees Strong Trading Volume – What’s Next?

Shares of Seadrill Limited (NYSE:SDRL) saw unusually-strong trading volume on Tuesday . Approximately 1,542,546 shares traded hands during mid-day trading, an increase of 69% from the previous session’s volume of 910,942 shares.The stock last traded at $40.1040 and had previously closed at $41.18.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SDRL shares. Weiss Ratings downgraded Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. Citigroup lowered Seadrill from a “neutral” rating to a “sell” rating and decreased their target price for the company from $35.00 to $32.00 in a research report on Monday, January 12th. BTIG Research boosted their target price on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, BWS Financial restated a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.60.

Seadrill Stock Down 2.9%

The business has a fifty day moving average of $34.83 and a 200 day moving average of $32.17. 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 company has a market capitalization of $2.50 billion, a PE ratio of 86.93 and a beta of 1.53.

Institutional Trading of Seadrill

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Seadrill during the second quarter valued at approximately $27,000. Aquatic Capital Management LLC bought a new position in Seadrill during the third quarter worth about $44,000. EverSource Wealth Advisors LLC bought a new stake in shares of Seadrill in the 2nd quarter valued at approximately $42,000. CIBC Private Wealth Group LLC acquired a new position in Seadrill during the third quarter worth $61,000. Finally, Farther Finance Advisors LLC lifted its holdings 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 valued at $63,000 after acquiring an additional 343 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

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.