Seadrill (NYSE:SDRL) Hits New 1-Year High – What’s Next?

Seadrill Limited (NYSE:SDRL) reached a new 52-week high during trading on Thursday . The company traded as high as $46.20 and last traded at $45.6660, with a volume of 215101 shares. The stock had previously closed at $44.97.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup raised Seadrill from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $32.00 to $46.00 in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research cut shares of 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 target price on shares of Seadrill in a research note on Friday, January 23rd. Finally, Barclays increased their price target on shares of Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. One 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.00.

Seadrill Price Performance

The firm has a 50-day moving average of $41.47 and a 200 day moving average of $35.13. The company has a market capitalization of $2.83 billion, a PE ratio of -36.63 and a beta of 1.45. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.03 and a quick ratio of 2.03.

Seadrill (NYSE:SDRL) last issued its earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $362.00 million during 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, research analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in Seadrill by 554.6% in the second quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock valued at $1,812,000 after acquiring an additional 58,467 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Seadrill by 498.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after purchasing an additional 512,074 shares during the period. Monaco Asset Management SAM increased its position in shares of Seadrill by 23.7% during the 3rd quarter. Monaco Asset Management SAM now owns 266,047 shares of the oil and gas company’s stock valued at $8,037,000 after purchasing an additional 51,047 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Seadrill by 64.4% in the 3rd quarter. American Century Companies Inc. now owns 884,430 shares of the oil and gas company’s stock worth $26,719,000 after purchasing an additional 346,409 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Seadrill in the third quarter worth approximately $758,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

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.