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

Seadrill Limited (NYSE:SDRL)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $30.47 and traded as high as $33.85. Seadrill shares last traded at $33.6960, with a volume of 536,439 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Seadrill in a research report on Wednesday, October 8th. BWS Financial reiterated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research note on Wednesday, December 17th. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. Barclays lowered their target price on Seadrill from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Finally, SEB Equity Research set a $33.00 price target on Seadrill in a research report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.60.

Seadrill Stock Performance

The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 73.25 and a beta of 1.59. The firm has a fifty day simple moving average of $31.17 and a 200 day simple moving average of $30.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.89 and a quick ratio of 1.89.

Seadrill (NYSE:SDRL) last announced its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.43). Seadrill had a return on equity of 0.10% and a net margin of 2.49%.The business had revenue of $363.00 million for the quarter, compared to analyst estimates of $343.56 million. On average, analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Institutional Trading of Seadrill

Several institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Seadrill during the second quarter worth about $27,000. GAMMA Investing LLC lifted its stake in Seadrill by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,237 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 942 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Seadrill in the 2nd quarter worth about $42,000. Aquatic Capital Management LLC purchased a new stake in Seadrill during the 3rd quarter worth approximately $44,000. Finally, Farther Finance Advisors LLC increased its stake in Seadrill by 34.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,743 shares of the oil and gas company’s stock worth $46,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

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.