Seadrill (NYSE:SDRL) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Seadrill Limited (NYSE:SDRL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.02 and traded as high as $31.77. Seadrill shares last traded at $31.4840, with a volume of 609,954 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SDRL. Citigroup lifted their price target on shares of Seadrill from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. SEB Equity Research set a $33.00 price objective on shares of Seadrill in a research note on Monday, September 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Seadrill in a research note on Wednesday, October 8th. Finally, Barclays started coverage on shares of Seadrill in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $33.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Seadrill presently has an average rating of “Hold” and an average price target of $43.20.

Seadrill Stock Up 3.1%

The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.96 billion, a P/E ratio of 28.11 and a beta of 1.58. The firm has a 50-day moving average price of $31.52 and a two-hundred day moving average price of $28.02.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of $0.68 by ($1.36). Seadrill had a net margin of 5.68% and a return on equity of 1.58%. The business had revenue of $377.00 million during the quarter, compared to the consensus estimate of $365.73 million. Equities research analysts anticipate that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its position in shares of Seadrill by 19.7% in the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 343 shares during the period. State of Wyoming raised its stake in shares of Seadrill by 9.8% in the first quarter. State of Wyoming now owns 5,162 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 462 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Seadrill by 18.8% in the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 558 shares in the last quarter. Hara Capital LLC raised its stake in shares of Seadrill by 2.2% in the second quarter. Hara Capital LLC now owns 33,707 shares of the oil and gas company’s stock valued at $885,000 after purchasing an additional 716 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Seadrill by 254.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 813 shares in the last quarter. 95.67% of the stock is owned by 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.