Seadrill (NYSE:SDRL) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Seadrill Limited (NYSE:SDRL) saw unusually-strong trading volume on Thursday . 712,873 shares were traded during trading, a decline of 12% from the previous session’s volume of 814,488 shares.The stock last traded at $46.2190 and had previously closed at $46.59.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a report 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 Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research note on Tuesday, June 30th. Barclays upgraded shares of Seadrill from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $59.00 in a report on Thursday, May 7th. Finally, Capital One Financial set a $55.00 price target on shares of Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Three 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

Seadrill Stock Up 0.5%

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market cap of $2.93 billion, a PE ratio of 1,560.17 and a beta of 1.21. The business has a fifty day moving average of $42.72 and a 200-day moving average of $44.83.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.29 by $0.18. The firm had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. Equities research analysts anticipate that Seadrill Limited will post 0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in Seadrill by 20.2% during the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after buying an additional 422 shares during the last quarter. Osaic Holdings Inc. raised its position 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 worth $92,000 after acquiring an additional 558 shares during the period. Swiss National Bank raised its holdings in Seadrill by 0.5% in the 1st quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company’s stock worth $5,333,000 after purchasing an additional 600 shares during the period. Alliancebernstein L.P. boosted its position in Seadrill by 1.0% during the third quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock worth $2,176,000 after purchasing an additional 700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Seadrill by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,556 shares of the oil and gas company’s stock valued at $642,000 after purchasing an additional 716 shares during the period. 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.