Seadrill (NYSE:SDRL) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Seadrill Limited (NYSE:SDRL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.80 and traded as high as $30.45. Seadrill shares last traded at $29.73, with a volume of 457,823 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BWS Financial reaffirmed a “buy” rating and issued a $80.00 price target on shares of Seadrill in a report on Tuesday, May 13th. BTIG Research set a $28.00 price target on Seadrill in a report on Monday, May 5th. Finally, Citigroup reaffirmed a “buy” rating and issued a $36.00 price target (up previously from $35.00) on shares of Seadrill in a report on Wednesday, June 18th.

Seadrill Stock Performance

The firm has a 50 day simple moving average of $26.08 and a 200-day simple moving average of $27.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 5.62 and a beta of 1.60.

Seadrill (NYSE:SDRL) last posted its earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.48). The business had revenue of $335.00 million for the quarter, compared to analyst estimates of $325.69 million. Seadrill had a return on equity of 4.68% and a net margin of 27.49%. As a group, analysts predict that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its position in shares of Seadrill by 22.5% during the first quarter. Adage Capital Partners GP L.L.C. now owns 4,200,535 shares of the oil and gas company’s stock worth $105,013,000 after buying an additional 771,366 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Seadrill by 12.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,459,524 shares of the oil and gas company’s stock worth $134,677,000 after buying an additional 384,471 shares during the period. Condire Management LP boosted its position in shares of Seadrill by 18.2% during the fourth quarter. Condire Management LP now owns 3,039,615 shares of the oil and gas company’s stock worth $118,332,000 after buying an additional 467,623 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Seadrill during the fourth quarter worth $66,400,000. Finally, Patient Capital Management LLC boosted its position in shares of Seadrill by 63.5% during the fourth quarter. Patient Capital Management LLC now owns 1,676,777 shares of the oil and gas company’s stock worth $65,277,000 after buying an additional 651,132 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

About Seadrill

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.