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Technical report on Seadrill Limited (NYSE:SDRL)

February 26
09:04 2015

Seadrill Limited (NYSE:SDRL) (TREND ANALYSIS) shares were traded with thin volume. The stock closed last trading session at $11.75, up by 1.38%, with a volume of 10,613,615 shares against an average volume for the last 3 months of 17,776,800.

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SDRL is expected to report fourth quarter earnings on February 26. The company’s earning per share consensus Street estimate stands at $0.62.

Seadrill Limited  (NYSE:SDRL) is currently trading 70.94% below its 52-week-high, 28% above its 52-week-low. The 12-months range for the stock is $9.18 – $40.44. Seadrill Limited (SDRL) has a price to earnings ratio of 1.37 versus S&P 500 average of 17.42. SDRL stock price has underperformed the S&P 500 by 4.3%. The company is currently valued at $5.79 billion and its share price closed the last trading session at $11.75. The stock has a 50-day moving average of $11.38 and a 200-day moving average of $20.63.

Seadrill Limited (SDRL) current short interest stands at 33.62 millions shares. It has increased by 7% from the same period of last month. Around 10% of the company’s shares, which are float, are short sold. With a 10-days average volume of 11.54 millions shares, the number of days required to cover the short positions stand at 3 days.

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There are currently thirty-four analysts that cover SDRL stock. Of those thirty-four, seven have a Buy rating, twelve have a Hold rating and fifteen have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $12.93.

A recent analyst activity consisted of Cowen reiterating their Market Perform stance on February 16. Cowen decreased price target from $12 to $10. This corresponds to a 14.89% downside from the last closing price.

Company profile

Seadrill Limited is an offshore drilling contractor providing worldwide offshore drilling services to the oil and gas industry. Its primary business is the ownership and operation of jack-up rigs, tender rigs, semi-submersible rigs and drillships for operations in shallow, mid and deepwater areas, and in benign and harsh environments. The Company operates in three segments: floaters, jack-up rigs and tender rigs. Seadrill owns and operates a fleet of offshore drilling units, which consist of semi-submersible rigs, drillships, jack-up rigs and tender rigs, including units, which is under construction, which consists of drillships, semi-submersible rig, jack-up rigs and tender rigs. The Company’s Floaters and Jack-up rigs segment offers services encompassing drilling, completion and maintenance of offshore exploration and production wells. The Tender Rigs segment operates self-erecting tender barges and semi-submersible tender rigs.

About Author

Drew Kornelly

Drew Kornelly

Drew Kornelly is the lead analyst for the Energy & Solar sectors. Prior to joining Markets Wired as an analyst in November 2013, he was Energy Specialist at JP Morgan Securities, managing energy risk and proprietary positions.

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