Seadrill (NYSE:SDRL) Stock Passes Above 200 Day Moving Average - Here's Why

Seadrill Limited (NYSE:SDRL - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.13 and traded as high as $28.98. Seadrill shares last traded at $28.97, with a volume of 1,394,882 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently commented on SDRL shares. BTIG Research set a $28.00 price target on shares of Seadrill in a research note on Monday, May 5th. Citigroup reiterated a "buy" rating and issued a $36.00 price target (up previously from $35.00) on shares of Seadrill in a research note on Wednesday, June 18th. Finally, BWS Financial reiterated a "buy" rating and issued a $80.00 price target on shares of Seadrill in a research note on Tuesday, May 13th.

Seadrill Stock Performance

The stock's fifty day moving average price is $25.18 and its two-hundred day moving average price is $28.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market cap of $1.81 billion, a P/E ratio of 5.50 and a beta of 1.60.

Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.48). Seadrill had a return on equity of 4.68% and a net margin of 27.49%. The firm had revenue of $335.00 million for the quarter, compared to the consensus estimate of $325.69 million. As a group, equities analysts predict that Seadrill Limited will post 1.86 earnings per share for the current year.

Institutional Trading of Seadrill

A number of institutional investors and hedge funds have recently made changes to their positions in SDRL. Headlands Technologies LLC bought a new stake in shares of Seadrill during the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd lifted its stake in Seadrill by 254.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 813 shares during the last quarter. Caldwell Sutter Capital Inc. bought a new position in Seadrill in the 1st quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its stake in Seadrill by 10,733.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 1,288 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Seadrill by 412.2% in the 1st quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 1,084 shares during the last quarter. Institutional investors own 95.67% of the company's stock.

Seadrill Company Profile

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.