Seadrill (NYSE:SDRL) Reaches New 1-Year High – Should You Buy?

Seadrill Limited (NYSE:SDRL)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.00 and last traded at $46.7110, with a volume of 117774 shares changing hands. The stock had previously closed at $44.56.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Citigroup upgraded shares of Seadrill from a “sell” rating to a “neutral” rating and raised their price target for the stock from $32.00 to $46.00 in a report on Thursday, March 5th. BTIG Research upped their price objective on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.00.

Seadrill Stock Up 3.7%

The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -37.26 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.03 and a current ratio of 2.03. The business’s 50 day moving average is $42.43 and its 200-day moving average is $35.56.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $362.00 million during the quarter, compared to analysts’ expectations of $335.36 million. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. Equities analysts anticipate that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Institutional Trading of Seadrill

Several institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in 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 worth $63,000 after purchasing an additional 343 shares during the last quarter. Amica Retiree Medical Trust boosted its position in Seadrill by 13.7% in the 3rd quarter. Amica Retiree Medical Trust now owns 2,942 shares of the oil and gas company’s stock valued at $89,000 after buying an additional 355 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Seadrill by 11.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,615 shares of the oil and gas company’s stock valued at $139,000 after buying an additional 484 shares during the period. Osaic Holdings Inc. raised its position in shares of Seadrill by 18.8% during the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock worth $92,000 after acquiring an additional 558 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Seadrill by 1.0% during the third quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock valued at $2,176,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds 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.