Seadrill (NYSE:SDRL) Stock Price Down 6.1% - Here's Why

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

Analysts Set New Price Targets

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

Seadrill Trading Up 0.4%

The firm's 50 day moving average price is $25.18 and its 200-day moving average price is $28.14. 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 stock 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 announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $325.69 million. As a group, equities research analysts forecast that Seadrill Limited will post 1.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SDRL. Headlands Technologies LLC bought a new stake in Seadrill in the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Seadrill by 254.1% during 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 acquiring an additional 813 shares during the last quarter. Caldwell Sutter Capital Inc. bought a new stake in shares of Seadrill in the first quarter worth approximately $30,000. Farther Finance Advisors LLC grew its stake in shares of Seadrill by 10,733.3% in the first 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 raised its holdings in shares of Seadrill by 412.2% during the first 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. 95.67% of the stock is owned by 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.