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

Seadrill Limited (NYSE:SDRL) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $51.25 and last traded at $49.1630, with a volume of 76587 shares. The stock had previously closed at $48.32.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SDRL shares. Wall Street Zen raised Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Citigroup increased their price objective on Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a report on Thursday, April 2nd. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, BTIG Research raised their price target on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Seadrill Trading Up 1.6%

The firm has a fifty day simple moving average of $45.72 and a two-hundred day simple moving average of $38.36. The stock has a market cap of $3.06 billion, a PE ratio of -39.62 and a beta of 1.25. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $335.36 million. As a group, equities analysts expect that Seadrill Limited will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill during the 2nd quarter valued at about $42,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill during the 3rd quarter valued at about $44,000. CIBC Private Wealth Group LLC bought a new position in shares of Seadrill during the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC increased its position in shares of Seadrill by 19.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 343 shares during the last quarter. 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.