Seadrill (NYSE:SDRL) Stock Price Down 7% – Time to Sell?

Seadrill Limited (NYSE:SDRL) fell 7% during mid-day trading on Tuesday . The stock traded as low as $29.78 and last traded at $29.75. 415,959 shares were traded during mid-day trading, a decline of 56% from the average session volume of 937,571 shares. The stock had previously closed at $31.99.

Analysts Set New Price Targets

SDRL has been the subject of several analyst reports. SEB Equity Research set a $33.00 target price on shares of Seadrill in a report on Monday, September 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seadrill in a research report on Wednesday, October 8th. Citigroup lowered shares of Seadrill from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $35.00 in a research note on Thursday. Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.60.

Seadrill Trading Down 6.8%

The firm has a 50 day moving average of $30.80 and a 200 day moving average of $30.03. The firm has a market cap of $1.86 billion, a PE ratio of 64.81 and a beta of 1.59. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21.

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

Institutional Trading of Seadrill

A number of institutional investors have recently modified their holdings of SDRL. CIBC Private Wealth Group LLC purchased a new position in shares of Seadrill in the third quarter valued at $61,000. CIBC Bancorp USA Inc. purchased a new position in shares of Seadrill during the third quarter worth about $202,000. Sig Brokerage LP increased its position in shares of Seadrill by 44.5% in the third quarter. Sig Brokerage LP now owns 29,414 shares of the oil and gas company’s stock worth $889,000 after purchasing an additional 9,056 shares during the last quarter. SIR Capital Management L.P. raised its stake in Seadrill by 804.1% in the third quarter. SIR Capital Management L.P. now owns 377,647 shares of the oil and gas company’s stock valued at $11,409,000 after purchasing an additional 335,877 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. lifted its position in Seadrill by 30.1% during the third quarter. Parallax Volatility Advisers L.P. now owns 117,101 shares of the oil and gas company’s stock valued at $3,538,000 after purchasing an additional 27,110 shares during the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Seadrill Company Profile

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.