Seadrill (NYSE:SDRL) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Seadrill Limited (NYSE:SDRL)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $40.74 and traded as high as $48.74. Seadrill shares last traded at $47.7220, with a volume of 613,706 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a report on Thursday, April 2nd. Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. BTIG Research lifted their target price on shares of Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, April 17th. Wall Street Zen raised shares of Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Barclays raised shares of Seadrill from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $41.00 to $59.00 in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Seadrill Price Performance

The company’s 50-day moving average price is $48.13 and its two-hundred day moving average price is $40.74. The company has a market cap of $2.98 billion, a P/E ratio of -42.61 and a beta of 1.19. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22.

Seadrill (NYSE:SDRL) last released its earnings results 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 company had revenue of $358.00 million during 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, sell-side analysts expect that Seadrill Limited will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Seadrill

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Seadrill during the 2nd quarter valued at about $42,000. Aquatic Capital Management LLC bought a new stake in shares of Seadrill during the 3rd quarter valued at about $44,000. CIBC Private Wealth Group LLC bought a new stake in shares of Seadrill during the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC grew its position in shares of 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 valued at $87,000 after buying an additional 422 shares during the last quarter. 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.