Seadrill (NYSE:SDRL) Hits New 1-Year High – Time to Buy?

Seadrill Limited (NYSE:SDRL)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.20 and last traded at $45.6660, with a volume of 215101 shares traded. The stock had previously closed at $44.97.

Analyst Upgrades and Downgrades

SDRL has been the subject of several recent analyst reports. Weiss Ratings cut shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Citigroup raised shares of Seadrill from a “sell” rating to a “neutral” rating and raised their price target for the company from $32.00 to $46.00 in a report on Thursday, March 5th. BWS Financial restated a “buy” rating and set a $80.00 price target on shares of Seadrill in a research report on Friday, January 23rd. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Barclays lifted their price objective on Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.00.

Seadrill Trading Down 0.0%

The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.84 billion, a P/E ratio of -36.65 and a beta of 1.45. The firm’s 50-day simple moving average is $41.89 and its 200-day simple moving average is $35.29.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. The firm had revenue of $362.00 million for the quarter, compared to analyst estimates of $335.36 million. Analysts anticipate that Seadrill Limited will post 1.86 EPS for the current year.

Institutional Investors Weigh In On Seadrill

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Seadrill in the 2nd quarter worth about $27,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill during the 3rd quarter valued at about $44,000. EverSource Wealth Advisors LLC purchased a new position in shares of Seadrill during the 2nd quarter valued at about $42,000. CIBC Private Wealth Group LLC purchased a new position in shares of Seadrill during the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC lifted its position in Seadrill by 19.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors 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.