Seadrill (NYSE:SDRL) Sees Strong Trading Volume – Here’s What Happened

Shares of Seadrill Limited (NYSE:SDRL) saw an uptick in trading volume on Tuesday . 1,542,546 shares traded hands during mid-day trading, an increase of 69% from the previous session’s volume of 910,942 shares.The stock last traded at $40.1040 and had previously closed at $41.18.

Wall Street Analyst Weigh In

SDRL has been the topic of several analyst reports. Citigroup downgraded shares of Seadrill from a “neutral” rating to a “sell” rating and cut their price target for the company from $35.00 to $32.00 in a report on Monday, January 12th. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Barclays increased their price objective on Seadrill from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.60.

Seadrill Trading Down 2.9%

The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 86.93 and a beta of 1.53. The company has a fifty day moving average of $34.83 and a two-hundred day moving average of $32.17. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21.

Hedge Funds Weigh In On Seadrill

Several institutional investors have recently added to or reduced their stakes in SDRL. Raymond James Financial Inc. acquired a new position in Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill in the second quarter valued at about $42,000. Aquatic Capital Management LLC bought a new stake in shares of Seadrill during the 3rd quarter valued at $44,000. CIBC Private Wealth Group LLC acquired a new stake in Seadrill in the third quarter valued at $61,000. Finally, Farther Finance Advisors LLC boosted its stake in Seadrill by 19.7% during the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 343 shares in the last quarter. 95.67% of the stock is 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.