Seadrill (NYSE:SDRL) Reaches New 52-Week High – What’s Next?

Seadrill Limited (NYSE:SDRL)’s share price 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. The stock had previously closed at $42.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SDRL shares. BTIG Research lifted their price objective on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. BWS Financial reaffirmed a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research report on Friday, January 23rd. Barclays set a $39.00 price objective on shares of Seadrill in a research report on Wednesday. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.80.

Seadrill Stock Performance

The firm has a 50-day moving average of $36.02 and a 200-day moving average of $32.69. 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 market capitalization of $2.74 billion, a price-to-earnings ratio of 95.68 and a beta of 1.54.

Institutional Trading of Seadrill

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Seadrill in the second quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new stake in Seadrill in the second quarter valued at $42,000. Aquatic Capital Management LLC acquired a new stake in Seadrill during the 3rd quarter worth about $44,000. CIBC Private Wealth Group LLC purchased a new position in shares of Seadrill during the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Seadrill by 19.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 343 shares during the period. 95.67% of the stock is currently 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.