Seadrill Limited (SDRL) is looking forward to a strong quarter

Seadrill Limited (NYSE: SDRL) stock jumped 1.95% on Tuesday to $40.87 against a previous-day closing price of $40.09. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.18 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $41.19 whereas the lowest price it dropped to was $39.07. The 52-week range on SDRL shows that it touched its highest point at $41.49 and its lowest point at $22.00 during that stretch.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SDRL was up-trending over the past week, with a rise of 16.17%, but this was up by 35.60% over a month.

Float and Shares Shorts:

At present, 50.00 million SDRL shares are outstanding with a float of 30.67 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.35 million, which was 2.70% higher than short shares on. In addition to Mr. Simon William Johnson as the firm’s Pres & CEO, Mr. Grant Russe Creed serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 4.84% of SDRL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of SDRL, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 0.60% stake in SDRL, the Alfred Berg Gambak is the largest stakeholder. A total of 300,000 shares are owned by the mutual fund manager. The KLP AksjeNorge, which owns about 0.60% of SDRL stock, is the second-largest Mutual Fund holder. It holds 298,415 shares valued at 9.22 million. Danske Invest Norske Aksjer Insti holds 0.47% of the stake in SDRL, owning 235,500 shares worth 7.27 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SDRL since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SDRL analysts setting a high price target of $51.34 and a low target of $45.60, the average target price over the next 12 months is $48.67. Based on these targets, SDRL could surge 25.62% to reach the target high and rise by 11.57% to reach the target low. Reaching the average price target will result in a growth of 19.08% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SDRL will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of $85.12 being high and $36.10 being low. For SDRL, this leads to a yearly average estimate of $66.65. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Seadrill Limited surprised analysts by $0.01 when it reported -$0.36 EPS against a consensus estimate of -$0.37. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.36 and the low estimate is -$0.70. The average estimate for the next quarter is thus -$0.53.

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