Seadrill (NYSE:SDRL) Stock Breaks Above Two Hundred Day Moving Average - Here's Why

Seadrill Limited (NYSE:SDRL - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $45.30 and traded as high as $45.85. Seadrill shares last traded at $45.4710, with a volume of 640,166 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 14th. Citigroup raised their target price on Seadrill from $54.00 to $55.00 and gave the company a "neutral" rating in a research note on Friday. BWS Financial reaffirmed a "buy" rating and issued a $80.00 target price on shares of Seadrill in a research report on Wednesday, October 14th. Barclays upped their price target on Seadrill from $59.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, November 9th. Finally, Weiss Ratings downgraded Seadrill from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $61.20.

Seadrill Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 2.18. The firm has a market capitalization of $2.80 billion, a P/E ratio of -156.79 and a beta of 1.17. The firm's 50 day simple moving average is $46.98 and its two-hundred day simple moving average is $45.30.

Seadrill (NYSE:SDRL - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.68). The company had revenue of $428.00 million for the quarter, compared to analysts' expectations of $382.66 million. Seadrill had a negative net margin of 1.13% and a positive return on equity of 1.50%. As a group, analysts predict that Seadrill Limited will post -0.30 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Seadrill during the second quarter valued at $207,509,000. Elliott Investment Management L.P. increased its holdings 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 valued at $214,718,000 after acquiring an additional 160,327 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Seadrill by 10.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company's stock valued at $161,671,000 after acquiring an additional 326,835 shares in the last quarter. Patient Capital Management LLC purchased a new position in shares of Seadrill in the 2nd quarter worth about $73,876,000. Finally, Webs Creek Capital Management LP purchased a new position in shares of Seadrill in the 2nd quarter worth about $49,368,299. 95.67% of the stock is currently owned by institutional investors.

About Seadrill

Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies. Its work supports the exploration and development of offshore energy resources. The company operates a fleet of offshore drilling units, including drillships, semi-submersible rigs and jack-up rigs. These units are designed for operations in different water depths and offshore conditions. Founded in 2005, Seadrill serves customers in offshore markets around the world. Its business focuses on providing rig operations and related drilling services rather than producing oil and gas itself.

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