Seadrill (NYSE:SDRL) Trading Down 6.1% – Time to Sell?

Seadrill Limited (NYSE:SDRL)’s share price traded down 6.1% during trading on Thursday . The stock traded as low as $38.20 and last traded at $37.74. 124,894 shares changed hands during trading, a decline of 84% from the average session volume of 799,212 shares. The stock had previously closed at $40.21.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upgraded shares of Seadrill from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $59.00 in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Citigroup boosted their price target on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, BWS Financial restated a “buy” rating and set a $80.00 price target on shares of Seadrill in a report on Tuesday, April 7th. Two research 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 given a Sell rating to the stock. According to MarketBeat.com, Seadrill has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Seadrill Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94. The firm’s 50 day moving average is $47.86 and its 200-day moving average is $41.91. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -34.37 and a beta of 1.19.

Seadrill (NYSE:SDRL) last released its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. The business had revenue of $358.00 million during the quarter, compared to analyst estimates of $326.75 million. Sell-side analysts anticipate that Seadrill Limited will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its stake in shares of Seadrill by 20.2% in 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 purchasing an additional 422 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Seadrill by 11.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,615 shares of the oil and gas company’s stock worth $139,000 after acquiring an additional 484 shares during the last quarter. Osaic Holdings Inc. lifted its position in Seadrill by 18.8% during the 2nd 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 last quarter. Swiss National Bank lifted its position in Seadrill by 0.5% during the 1st quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company’s stock worth $5,333,000 after acquiring an additional 600 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Seadrill by 1.0% during the 3rd quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock worth $2,176,000 after acquiring an additional 700 shares during 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.