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

Key Points

• Seadrill's stock price surpassed its 200-day moving average of $27.28, reaching a high of $30.90 before closing at $29.38.
• Analyst ratings for Seadrill show mixed sentiment, with price targets set at $33.00 by SEB Equity Research and Barclays, while Weiss Ratings maintains a "hold" rating.
• The company's recent quarterly report indicated a loss of ($0.68) earnings per share, but revenue exceeded expectations at $377 million.

Seadrill Limited (NYSE:SDRL - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.28 and traded as high as $30.90. Seadrill shares last traded at $29.38, with a volume of 589,980 shares traded.

Analyst Upgrades and Downgrades

SDRL has been the subject of several recent analyst reports. SEB Equity Research set a $33.00 target price on shares of Seadrill in a report on Monday, September 1st. Barclays initiated coverage on shares of Seadrill in a report on Tuesday, October 7th. They issued an "equal weight" rating and a $33.00 target price for the company. Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of Seadrill in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Seadrill from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $43.20.

Seadrill Stock Performance

The stock has a market cap of $1.83 billion, a P/E ratio of 26.23 and a beta of 1.58. The firm's 50-day moving average is $31.16 and its two-hundred day moving average is $27.28. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of $0.68 by ($1.36). The business had revenue of $377.00 million for the quarter, compared to the consensus estimate of $365.73 million. Seadrill had a net margin of 5.68% and a return on equity of 1.58%. As a group, research analysts expect that Seadrill Limited will post 1.86 EPS for the current year.

Hedge Funds Weigh In On Seadrill

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Seadrill during the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its holdings 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 purchasing an additional 813 shares during the last quarter. GAMMA Investing LLC grew its holdings in Seadrill by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,237 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 942 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Seadrill by 10,733.3% during the first 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, EverSource Wealth Advisors LLC acquired a new position in Seadrill during the second quarter valued at approximately $42,000. 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.

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