Seadrill (NYSE:SDRL) Trading 4.5% Higher - Here's What Happened

Seadrill Limited (NYSE:SDRL - Get Free Report)'s share price was up 4.5% during mid-day trading on Wednesday . The company traded as high as $19.64 and last traded at $19.81. Approximately 98,435 shares were traded during trading, a decline of 89% from the average daily volume of 935,413 shares. The stock had previously closed at $18.96.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SDRL. Citigroup dropped their target price on shares of Seadrill from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. BWS Financial restated a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research report on Monday, March 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $62.00.

Seadrill Trading Up 8.0 %

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 3.65 and a beta of 1.41. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. The business's 50 day moving average price is $24.62 and its two-hundred day moving average price is $33.50.

Seadrill (NYSE:SDRL - Get Free Report) last posted its earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $1.41. The firm had revenue of $289.00 million for the quarter, compared to analysts' expectations of $299.50 million. Seadrill had a net margin of 27.79% and a return on equity of 7.24%. On average, equities analysts predict that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

A number of hedge funds and other institutional investors have recently bought and sold shares of SDRL. JPMorgan Chase & Co. boosted its stake in shares of Seadrill by 134.8% during the fourth quarter. JPMorgan Chase & Co. now owns 206,738 shares of the oil and gas company's stock valued at $8,048,000 after purchasing an additional 118,699 shares in the last quarter. Vanguard Group Inc. boosted its position in Seadrill by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 540,864 shares of the oil and gas company's stock worth $21,056,000 after buying an additional 16,230 shares during the period. LPL Financial LLC boosted its position in Seadrill by 409.8% during the 4th quarter. LPL Financial LLC now owns 57,543 shares of the oil and gas company's stock worth $2,240,000 after buying an additional 46,255 shares during the period. Geode Capital Management LLC grew its holdings in Seadrill by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 833,388 shares of the oil and gas company's stock worth $32,444,000 after acquiring an additional 7,041 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in Seadrill by 125.7% in the 4th quarter. Bridgewater Associates LP now owns 163,024 shares of the oil and gas company's stock valued at $6,347,000 after acquiring an additional 90,795 shares during the period. Institutional investors own 95.67% of the company's stock.

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.