Seadrill (NYSE:SDRL) Stock Price Up 4.5% – Here’s Why

Shares of Seadrill Limited (NYSE:SDRL) traded up 4.5% during trading on Wednesday . The company traded as high as $19.64 and last traded at $19.81. 98,435 shares changed hands during trading, a decline of 89% from the average session volume of 935,413 shares. The stock had previously closed at $18.96.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SDRL. Citigroup decreased their price target on shares of Seadrill from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. BWS Financial reaffirmed a “buy” rating and set a $80.00 target price on shares of Seadrill in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Seadrill presently has a consensus rating of “Buy” and an average target price of $62.00.

Seadrill Stock Up 1.6 %

The business has a fifty day moving average of $25.36 and a 200 day moving average of $33.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 3.36 and a beta of 1.41.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $1.41. Seadrill had a net margin of 27.79% and a return on equity of 7.24%. The business had revenue of $289.00 million for the quarter, compared to the consensus estimate of $299.50 million. As a group, equities analysts predict that Seadrill Limited will post 1.86 earnings per share for the current year.

Institutional Investors Weigh In On Seadrill

Large investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. grew its stake in Seadrill by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company’s stock worth $283,000 after buying an additional 325 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Seadrill by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 354 shares during the period. Headlands Technologies LLC purchased a new stake in Seadrill in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc increased its position in Seadrill by 412.2% during the 1st quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 1,084 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Seadrill by 10,733.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,288 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Seadrill Company Profile

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.