Seadrill (NYSE:SDRL) Reaches New 52-Week High – What’s Next?

Seadrill Limited (NYSE:SDRL)’s stock price reached a new 52-week high on Thursday . The company traded as high as $48.00 and last traded at $46.7110, with a volume of 117774 shares changing hands. The stock had previously closed at $44.56.

Wall Street Analysts Forecast Growth

SDRL has been the subject of several analyst reports. Barclays boosted their price target on Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. BTIG Research lifted their price objective on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. BWS Financial reiterated a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Friday, January 23rd. Finally, Zacks Research lowered Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.00.

Seadrill Trading Up 3.7%

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’s 50 day simple moving average is $42.43 and its 200-day simple moving average is $35.56. The company has a market capitalization of $2.89 billion, a PE ratio of -37.26 and a beta of 1.31.

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

Institutional Investors Weigh In On Seadrill

A number of hedge funds have recently bought and sold shares of SDRL. Legal & General Group Plc boosted its position in shares of Seadrill by 554.6% in the 2nd quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock valued at $1,812,000 after purchasing an additional 58,467 shares during the period. JPMorgan Chase & Co. lifted its stake in Seadrill by 498.2% during the second quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after buying an additional 512,074 shares in the last quarter. Monaco Asset Management SAM lifted its stake in Seadrill by 23.7% during the third quarter. Monaco Asset Management SAM now owns 266,047 shares of the oil and gas company’s stock valued at $8,037,000 after buying an additional 51,047 shares in the last quarter. American Century Companies Inc. increased its position in shares of Seadrill by 64.4% in the third quarter. American Century Companies Inc. now owns 884,430 shares of the oil and gas company’s stock worth $26,719,000 after acquiring an additional 346,409 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Seadrill during the third quarter valued at approximately $758,000. 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.