Seadrill (NYSE:SDRL) Trading Down 3.9% – Here’s Why

Shares of Seadrill Limited (NYSE:SDRL) fell 3.9% during trading on Monday . The company traded as low as $42.73 and last traded at $43.0760. Approximately 159,518 shares were traded during trading, a decline of 81% from the average daily volume of 834,024 shares. The stock had previously closed at $44.84.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SDRL. BTIG Research raised their price target on shares of Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $59.00 in a research note on Thursday, May 7th. BWS Financial reissued a “buy” rating and set a $80.00 target price on shares of Seadrill in a report on Monday, June 29th. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Citigroup boosted their price target on Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Seadrill Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94. The firm’s 50-day moving average price is $42.67 and its two-hundred day moving average price is $43.76. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -38.07 and a beta of 1.21.

Seadrill (NYSE:SDRL) last released its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $358.00 million for the quarter, compared to analyst estimates of $326.75 million. Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%. On average, analysts expect that Seadrill Limited will post 0.37 EPS for the current fiscal year.

Institutional Trading of Seadrill

Several institutional investors have recently made changes to their positions in SDRL. Farther Finance Advisors LLC grew its position in Seadrill by 20.2% in the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after acquiring an additional 422 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Seadrill by 18.8% in the 2nd quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 558 shares during the last quarter. Swiss National Bank grew its holdings in shares of Seadrill by 0.5% during the 1st quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company’s stock worth $5,333,000 after purchasing an additional 600 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Seadrill by 1.0% during the 3rd quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock worth $2,176,000 after purchasing an additional 700 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Seadrill by 4.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,556 shares of the oil and gas company’s stock worth $642,000 after purchasing an additional 716 shares during the last quarter. 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.