Seadrill (NYSE:SDRL) Trading Down 6.1% – Time to Sell?

Seadrill Limited (NYSE:SDRL) shares fell 6.1% on Thursday . The company traded as low as $38.20 and last traded at $37.74. 124,894 shares were traded during trading, a decline of 84% from the average session volume of 799,212 shares. The stock had previously closed at $40.21.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SDRL. Wall Street Zen raised Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Barclays upgraded shares of Seadrill from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. BTIG Research raised their price objective 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. Fearnley Fonds upgraded shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, BWS Financial reiterated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Seadrill currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Seadrill Stock Performance

The company’s 50-day simple moving average is $47.86 and its 200-day simple moving average is $41.91. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of -34.37 and a beta of 1.19.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%.The firm had revenue of $358.00 million during the quarter, compared to analyst estimates of $326.75 million. Analysts predict that Seadrill Limited will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Seadrill in the 2nd quarter worth approximately $27,000. Aquatic Capital Management LLC acquired a new position in Seadrill in the 3rd quarter worth approximately $44,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill during the 2nd quarter valued at $42,000. CIBC Private Wealth Group LLC purchased a new position in shares of Seadrill during the 3rd quarter valued at $61,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Seadrill by 20.2% during the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 422 shares in the last quarter. Institutional investors and hedge funds 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.