Seadrill Target of Unusually High Options Trading (SDRL)
Seadrill (NASDAQ:SDRL) saw unusually large options trading on Wednesday. Traders purchased 7,612 put options on the stock, American Banking News reports. This represents an increase of 243% compared to the typical volume of 2,217 put options.
SDRL has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Seadrill in a research note on Monday, August 4th. They now have a $36.00 price target on the stock, down previously from $40.00. Separately, analysts at Zacks upgraded shares of Seadrill from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $37.40 price target on the stock. Finally, analysts at Global Hunter Securities downgraded shares of Seadrill from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 30th. They now have a $37.00 price target on the stock, down previously from $41.00. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. Seadrill currently has an average rating of “Hold” and a consensus target price of $41.95.
Shares of Seadrill (NASDAQ:SDRL) traded down 2.76% during mid-day trading on Wednesday, hitting $36.63. The stock had a trading volume of 8,548,328 shares. Seadrill has a 1-year low of $32.40 and a 1-year high of $48.09. The stock’s 50-day moving average is $37.19 and its 200-day moving average is $36.46. The company has a market cap of $17.184 billion and a P/E ratio of 3.47.
Seadrill (NASDAQ:SDRL) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.74 by $0.50. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts expect that Seadrill will post $3.01 EPS for the current fiscal year.
Seadrill Limited an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry.
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