Seadrill (NYSE:SDRL) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Seadrill Limited (NYSE:SDRL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.47 and traded as high as $33.85. Seadrill shares last traded at $33.6960, with a volume of 536,439 shares changing hands.

Wall Street Analysts Forecast Growth

SDRL has been the subject of a number of recent analyst reports. BWS Financial restated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a report on Wednesday, December 17th. Citigroup cut Seadrill from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $35.00 in a research note on Thursday, December 11th. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Finally, Barclays decreased their target price on Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.60.

Seadrill Stock Performance

The company has a market cap of $2.16 billion, a PE ratio of 75.20 and a beta of 1.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.89 and a quick ratio of 1.89. The business has a 50-day moving average of $31.34 and a 200 day moving average of $30.53.

Seadrill (NYSE:SDRL) last announced its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.43). Seadrill had a return on equity of 0.10% and a net margin of 2.49%.The firm had revenue of $363.00 million during the quarter, compared to analysts’ expectations of $343.56 million. Equities research analysts anticipate that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Institutional Trading of Seadrill

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDRL. CIBC Private Wealth Group LLC purchased a new position in shares of Seadrill during the 3rd quarter worth $61,000. CIBC Bancorp USA Inc. purchased a new position in Seadrill during the third quarter valued at $202,000. Sig Brokerage LP grew its holdings in Seadrill by 44.5% during the third quarter. Sig Brokerage LP now owns 29,414 shares of the oil and gas company’s stock valued at $889,000 after purchasing an additional 9,056 shares during the period. SIR Capital Management L.P. grew its holdings in Seadrill by 804.1% during the third quarter. SIR Capital Management L.P. now owns 377,647 shares of the oil and gas company’s stock valued at $11,409,000 after purchasing an additional 335,877 shares during the period. Finally, Parallax Volatility Advisers L.P. increased its position in Seadrill by 30.1% in the third quarter. Parallax Volatility Advisers L.P. now owns 117,101 shares of the oil and gas company’s stock worth $3,538,000 after buying an additional 27,110 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

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.