Seadrill (NYSE:SDRL) Shares Gap Up – What’s Next?
by Sarita Garza · The Markets DailySeadrill Limited (NYSE:SDRL – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $39.90, but opened at $41.81. Seadrill shares last traded at $41.0280, with a volume of 678,731 shares changing hands.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Citigroup downgraded shares of Seadrill from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $35.00 to $32.00 in a research note on Monday, January 12th. Weiss Ratings downgraded Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. Barclays raised their price target on Seadrill from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, BTIG Research increased their price objective on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.60.
View Our Latest Analysis on SDRL
Seadrill Price Performance
The company has a 50 day moving average price of $34.63 and a 200 day moving average price of $32.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.89 and a quick ratio of 1.89. The firm has a market cap of $2.56 billion, a PE ratio of 89.28 and a beta of 1.53.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Seadrill by 554.6% in the second quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock valued at $1,812,000 after buying an additional 58,467 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Seadrill by 498.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock worth $16,140,000 after buying an additional 512,074 shares in the last quarter. Monaco Asset Management SAM grew its stake in Seadrill by 7.5% in the 2nd quarter. Monaco Asset Management SAM now owns 215,000 shares of the oil and gas company’s stock valued at $5,644,000 after acquiring an additional 15,000 shares during the last quarter. Packer & Co Ltd acquired a new stake in Seadrill in the 3rd quarter valued at about $13,597,000. Finally, Creative Planning increased its holdings in Seadrill by 302.9% during the 2nd quarter. Creative Planning now owns 114,482 shares of the oil and gas company’s stock valued at $3,005,000 after acquiring an additional 86,069 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.
Seadrill Company Profile
Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.
Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.