Seadrill (NYSE:SDRL) Trading Down 4% - Here's What Happened

Key Points

• Seadrill's stock fell by 4% on Friday, trading at $31.80, with a significant 84% decline in trading volume compared to its average.
• Analysts have mixed ratings for Seadrill, with Citigroup upgrading its price target to $40.00, while Fearnley Fonds downgraded it to a "hold," resulting in an overall average rating of "Hold."
• Seadrill reported a quarterly loss of ($0.68) EPS, missing estimates, but achieved a revenue of $377 million, slightly above analysts' expectations of $365.73 million.

Shares of Seadrill Limited (NYSE:SDRL - Get Free Report) fell 4% on Friday . The stock traded as low as $31.80 and last traded at $31.80. 154,501 shares were traded during trading, a decline of 84% from the average session volume of 979,640 shares. The stock had previously closed at $33.14.

Analysts Set New Price Targets

Several research firms recently commented on SDRL. SEB Equity Research set a $33.00 price objective on Seadrill in a research note on Monday, September 1st. Fearnley Fonds lowered Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Zacks Research raised Seadrill to a "strong sell" rating in a research report on Tuesday, August 12th. Finally, Citigroup increased their price objective on Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a report on Friday, August 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $45.25.

Seadrill Stock Performance

The stock has a 50-day simple moving average of $30.56 and a 200-day simple moving average of $26.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market cap of $1.94 billion, a PE ratio of 47.71 and a beta of 1.62.

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

Hedge Funds Weigh In On Seadrill

Several hedge funds have recently bought and sold shares of SDRL. Ameriprise Financial Inc. acquired a new position in Seadrill in the 4th quarter valued at approximately $409,000. ProShare Advisors LLC grew its stake in shares of Seadrill by 51.1% during the fourth quarter. ProShare Advisors LLC now owns 19,564 shares of the oil and gas company's stock valued at $762,000 after purchasing an additional 6,612 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Seadrill in the fourth quarter worth about $3,642,000. Mackenzie Financial Corp bought a new stake in Seadrill during the 4th quarter worth about $489,000. Finally, Hara Capital LLC grew its holdings in Seadrill by 4.0% during the 4th quarter. Hara Capital LLC now owns 36,301 shares of the oil and gas company's stock worth $1,413,000 after acquiring an additional 1,410 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

About Seadrill

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.