Seadrill (NYSE:SDRL) Stock Price Down 3.9% – What’s Next?

Seadrill Limited (NYSE:SDRL)’s stock price fell 3.9% during mid-day trading on Monday . The stock traded as low as $42.73 and last traded at $43.0760. Approximately 159,518 shares were traded during trading, a decline of 81% from the average session volume of 834,024 shares. The stock had previously closed at $44.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. BWS Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research note on Monday, June 29th. Capital One Financial set a $55.00 target price on shares of Seadrill and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Citigroup upped their price target on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Seadrill Price Performance

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’s 50 day moving average price is $42.67 and its two-hundred day moving average price is $43.76. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -38.07 and a beta of 1.21.

Seadrill (NYSE:SDRL) last issued its earnings results 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 company had revenue of $358.00 million during the quarter, compared to analysts’ expectations of $326.75 million. Equities research analysts forecast that Seadrill Limited will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Several large investors have recently made changes to their positions in the company. Schf GPE LLC purchased a new position in shares of Seadrill during the 2nd quarter valued at approximately $60,132,000. Elliott Investment Management L.P. grew its stake in Seadrill by 23.1% in the 4th quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock valued at $157,733,000 after acquiring an additional 855,012 shares during the period. Thomist Capital Management LP increased its holdings in Seadrill by 44.6% in the 4th quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company’s stock worth $63,387,000 after acquiring an additional 566,419 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its position in Seadrill by 27.6% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,449,565 shares of the oil and gas company’s stock worth $111,455,000 after acquiring an additional 529,884 shares during the period. Finally, Barclays PLC raised its position in Seadrill by 123.2% during the fourth quarter. Barclays PLC now owns 704,039 shares of the oil and gas company’s stock worth $24,360,000 after acquiring an additional 388,634 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

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.