Seadrill (NYSE:SDRL) Hits New 52-Week High – Still a Buy?

Seadrill Limited (NYSE:SDRL) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.85 and last traded at $43.6880, with a volume of 756 shares. The stock had previously closed at $42.50.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays set a $39.00 price target on shares of Seadrill in a research report on Wednesday. Citigroup downgraded shares of Seadrill from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $35.00 to $32.00 in a report on Monday, January 12th. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. BTIG Research upped their price objective on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Weiss Ratings cut Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Seadrill currently has an average rating of “Hold” and an average target price of $44.80.

Seadrill Price Performance

The stock’s 50 day moving average price is $36.02 and its 200-day moving average price is $32.69. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.74 billion, a PE ratio of 95.68 and a beta of 1.54.

Institutional Trading of Seadrill

Several institutional investors and hedge funds have recently modified their holdings of SDRL. Farther Finance Advisors LLC increased its holdings in 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 worth $63,000 after purchasing an additional 343 shares during the period. Amica Retiree Medical Trust grew its position in shares of Seadrill by 13.7% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,942 shares of the oil and gas company’s stock worth $89,000 after buying an additional 355 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Seadrill by 11.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,615 shares of the oil and gas company’s stock worth $139,000 after buying an additional 484 shares in the last quarter. Osaic Holdings Inc. increased its stake 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 valued at $92,000 after buying an additional 558 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Seadrill by 1.0% in 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 in the last quarter. Institutional investors own 95.67% of the company’s stock.

About Seadrill

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.