Seadrill (NYSE:SDRL) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Seadrill Limited (NYSE:SDRL) shares passed 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.

Wall Street Analysts Forecast Growth

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

Seadrill Stock Up 6.4%

The firm has a 50-day moving average of $24.84 and a two-hundred day moving average of $28.13. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 5.48 and a beta of 1.60. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last issued its earnings results 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). The business had revenue of $335.00 million during the quarter, compared to analyst estimates of $325.69 million. Seadrill had a net margin of 27.49% and a return on equity of 4.68%. As a group, sell-side analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Seadrill by 13.5% in the 4th quarter. Principal Financial Group Inc. now owns 46,803 shares of the oil and gas company’s stock worth $1,822,000 after purchasing an additional 5,567 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Seadrill by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 177,813 shares of the oil and gas company’s stock valued at $6,922,000 after buying an additional 5,706 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Seadrill by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 167,841 shares of the oil and gas company’s stock worth $6,534,000 after buying an additional 3,477 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Seadrill by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company’s stock worth $146,000 after buying an additional 354 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Seadrill during the fourth quarter valued at approximately $533,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

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.