Seadrill (NYSE:SDRL) Shares Up 7.3% – Here’s Why

Seadrill Limited (NYSE:SDRL)’s stock price traded up 7.3% on Tuesday . The company traded as high as $36.12 and last traded at $36.0860. 451,252 shares were traded during trading, a decline of 45% from the average session volume of 816,971 shares. The stock had previously closed at $33.64.

Analysts Set New Price Targets

Several brokerages have weighed in on SDRL. Citigroup lowered shares of Seadrill from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $35.00 to $32.00 in a research report on Monday. Weiss Ratings cut Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Barclays decreased their target price on Seadrill from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Finally, Dnb Carnegie raised Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.40.

Seadrill Trading Up 4.8%

The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 76.62 and a beta of 1.54. The business’s 50-day moving average price is $31.84 and its two-hundred day moving average price is $30.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.89 and a quick ratio of 1.89.

Seadrill (NYSE:SDRL) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.43). Seadrill had a net margin of 2.49% and a return on equity of 0.10%. The business had revenue of $363.00 million during the quarter, compared to analysts’ expectations of $343.56 million. Equities analysts expect that Seadrill Limited will post 1.86 earnings per share for the current year.

Hedge Funds Weigh In On Seadrill

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Seadrill by 70.5% during the fourth quarter. SG Americas Securities LLC now owns 12,289 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 5,083 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Seadrill in the 3rd quarter worth $61,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Seadrill in the third quarter valued at $202,000. Sig Brokerage LP boosted its stake in Seadrill by 44.5% during the third quarter. Sig Brokerage LP now owns 29,414 shares of the oil and gas company’s stock valued at $889,000 after buying an additional 9,056 shares in the last quarter. Finally, SIR Capital Management L.P. grew its holdings in Seadrill by 804.1% during the third quarter. SIR Capital Management L.P. now owns 377,647 shares of the oil and gas company’s stock worth $11,409,000 after acquiring an additional 335,877 shares during the period. Institutional investors and hedge funds 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.