Seadrill (NYSE:SDRL) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Seadrill Limited (NYSE:SDRL - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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

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

Seadrill Trading Up 0.4%

The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $24.84 and a 200-day moving average price of $28.13. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 5.50 and a beta of 1.60.

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

Hedge Funds Weigh In On Seadrill

A number of institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in shares of Seadrill in the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd raised its position in Seadrill by 254.1% during the first 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 buying an additional 813 shares during the period. Caldwell Sutter Capital Inc. purchased a new stake in Seadrill in the 1st quarter worth about $30,000. Farther Finance Advisors LLC boosted its position in Seadrill by 10,733.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 1,288 shares during the period. Finally, Versant Capital Management Inc grew its stake in Seadrill by 412.2% during 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 acquiring an additional 1,084 shares in the last quarter. Hedge funds and other 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.