Seadrill (NYSE:SDRL) Stock Price Down 6.1% - What's Next?

Seadrill Limited (NYSE:SDRL - Get Free Report)'s stock price traded down 6.1% during mid-day trading on Thursday . The company traded as low as $28.69 and last traded at $27.22. 670,269 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 1,018,332 shares. The stock had previously closed at $28.98.

Analysts Set New Price Targets

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

Seadrill Price Performance

The stock has a market capitalization of $1.81 billion, a PE ratio of 5.50 and a beta of 1.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 2.01. The firm's 50 day simple moving average is $25.18 and its 200 day simple moving average is $28.08.

Seadrill (NYSE:SDRL - Get Free Report) last issued its earnings results on Monday, May 12th. The oil and gas company reported ($0.23) EPS 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 business had revenue of $335.00 million during the quarter, compared to analysts' expectations of $325.69 million. As a group, equities analysts forecast that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in Seadrill in the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Seadrill by 254.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company's stock worth $28,000 after buying an additional 813 shares during the period. Caldwell Sutter Capital Inc. purchased a new position in shares of Seadrill in the first quarter worth $30,000. Farther Finance Advisors LLC raised its holdings 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 valued at $33,000 after buying an additional 1,288 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position 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 buying an additional 1,084 shares during the period. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

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.