Seadrill Limited (NYSE:SDRL) Short Interest Update

Seadrill Limited (NYSE:SDRL) was the recipient of a significant decrease in short interest in 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. Based on an average daily volume of 1,340,098 shares, the short-interest ratio is presently 3.7 days. Currently, 7.9% of the company’s stock are sold short. Currently, 7.9% of the company’s stock are sold short. Based on an average daily volume of 1,340,098 shares, the short-interest ratio is presently 3.7 days.

Analyst Upgrades and Downgrades

SDRL has been the subject of several research reports. BTIG Research raised their target price on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Citigroup upgraded Seadrill from a “sell” rating to a “neutral” rating and increased their price target for the stock from $32.00 to $46.00 in a report on Thursday. BWS Financial reissued a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research note on Friday, January 23rd. Zacks Research lowered Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Finally, Weiss Ratings cut Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Seadrill has an average rating of “Hold” and a consensus price target of $48.00.

Seadrill Price Performance

SDRL stock opened at $43.71 on Friday. The company has a market capitalization of $2.73 billion, a P/E ratio of -35.25 and a beta of 1.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.89 and a current ratio of 2.03. Seadrill has a 52-week low of $17.74 and a 52-week high of $45.90. The business has a 50-day simple moving average of $38.88 and a two-hundred day simple moving average of $33.88.

Seadrill (NYSE:SDRL) last issued its quarterly earnings data 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. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%.The firm had revenue of $362.00 million during the quarter, compared to the consensus estimate of $335.36 million. Research analysts expect that Seadrill will post 1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Several large investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV bought a new stake in shares of Seadrill in the 4th quarter worth $244,000. Elliott Investment Management L.P. lifted its position in shares of Seadrill by 23.1% during the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock valued at $157,733,000 after purchasing an additional 855,012 shares in the last quarter. Empowered Funds LLC boosted its holdings in Seadrill by 35.1% during the fourth quarter. Empowered Funds LLC now owns 285,631 shares of the oil and gas company’s stock worth $9,883,000 after purchasing an additional 74,250 shares during the last quarter. SummitTX Capital L.P. boosted its holdings in Seadrill by 2,972.8% during the fourth quarter. SummitTX Capital L.P. now owns 312,385 shares of the oil and gas company’s stock worth $10,809,000 after purchasing an additional 302,219 shares during the last quarter. Finally, Odyssean LLC bought a new stake in Seadrill in the 4th quarter worth about $282,000. 95.67% of the stock is currently 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.