Seadrill (NYSE:SDRL) Shares Climb 4.4% – What’s Next?

Seadrill Limited (NYSE:SDRL) rose 4.4% during trading on Tuesday. The stock traded as high as $49.26 and last traded at $49.0650. Approximately 37,964 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 773,937 shares. The stock had previously closed at $46.99.

Analysts Set New Price Targets

Several analysts recently issued reports on SDRL shares. Citigroup reiterated a “neutral” rating on shares of Seadrill in a report on Monday, September 7th. Capital One Financial set a $55.00 target price on shares of Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings raised Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. BWS Financial restated a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research note on Tuesday, August 11th. Finally, Zacks Research raised Seadrill from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Four analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $59.40.

Seadrill Price Performance

The business’s 50 day moving average is $46.73 and its 200-day moving average is $45.74. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.07 billion, a P/E ratio of 1,633.67 and a beta of 1.25.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.18. The company had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. As a group, sell-side analysts predict that Seadrill Limited will post 0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Seadrill

A number of institutional investors and hedge funds have recently bought and sold shares of SDRL. State of Wyoming acquired a new position in shares of Seadrill in the second quarter valued at approximately $55,000. Integrated Wealth Concepts LLC bought a new position in Seadrill during the second quarter worth $92,000. GAMMA Investing LLC lifted its stake in shares of Seadrill by 38.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,523 shares of the oil and gas company’s stock valued at $113,000 after purchasing an additional 698 shares during the period. Entropy Technologies LP acquired a new position in Seadrill in the first quarter valued at approximately $205,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Seadrill during the 1st quarter valued at $220,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Seadrill Company Profile

Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, used to explore for and develop oil and natural gas resources in deepwater and other challenging marine environments.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s fleet is designed to serve a range of offshore projects, with operations and contract activity spanning major energy-producing regions such as the Gulf of Mexico, Brazil, the North Sea, West Africa and other international markets.

Seadrill was founded in 2005 and has expanded through fleet development, acquisitions and strategic transactions.