Seadrill (NYSE:SDRL) Sets New 52-Week High – Here’s Why

Seadrill Limited (NYSE:SDRL)’s stock price hit a new 52-week high on Monday . The stock traded as high as $53.94 and last traded at $53.8960, with a volume of 178810 shares traded. The stock had previously closed at $52.70.

Analyst Ratings Changes

Several brokerages have recently weighed in on SDRL. BTIG Research lifted their price objective on Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Wall Street Zen raised Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Trading Up 3.3%

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.94 and a quick ratio of 1.94. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -48.63 and a beta of 1.25. The business has a 50 day simple moving average of $46.54 and a 200 day simple moving average of $39.18.

Seadrill (NYSE:SDRL) last announced its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $358.00 million for the quarter, compared to the consensus estimate of $326.75 million. Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%. As a group, equities analysts forecast that Seadrill Limited will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Seadrill

Large investors have recently modified their holdings of the business. Quantinno Capital Management LP boosted its position in shares of Seadrill by 91.9% during the first quarter. Quantinno Capital Management LP now owns 71,916 shares of the oil and gas company’s stock worth $3,272,000 after buying an additional 34,436 shares during the period. Elliott Investment Management L.P. boosted its position in shares of Seadrill by 3.5% during the first quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company’s stock worth $214,718,000 after buying an additional 160,327 shares during the period. Entropy Technologies LP acquired a new position in shares of Seadrill during the first quarter worth about $205,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Seadrill by 3.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 342,645 shares of the oil and gas company’s stock valued at $15,590,000 after purchasing an additional 11,774 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Seadrill by 65.7% during the first quarter. Sei Investments Co. now owns 32,540 shares of the oil and gas company’s stock valued at $1,481,000 after purchasing an additional 12,905 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

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.