What just happened? Seadrill Limited (NYSE:SDRL) stock value has plummeted by nearly -11.54% or (-0.4 points) to $3.1 from its previous close of $3.5. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 233138 contracts so far this session. SDRL shares had a relatively better volume day versus average trading capacity of 1.22 million shares, but with a 47.87 million float and a 42.86% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SDRL stock indicates that the average analyst price target is $10.5 per share. This means the stock has a potential increase of 238.71% from where the SDRL share price has been trading recently which is between $3.07 and $3.52. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.79.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Stocks – U.S. Futures Tick Lower After Bleak Data” and dated September 10, 2019.
During the recent trading session for Seadrill Limited (NYSE:SDRL), the company witnessed their stock rise $0.6 over a week and surge $0.84 from the price 20 days ago. When compared to their established 52-week high of $26.72, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/10/18. The recent low of $2.07 stood for a -88.41% since 08/15/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Seadrill Limited, the two-week RSI stands at 55.1. This figure suggests that SDRL stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SDRL readings is similarly very revealing as it has a stochastic reading of 84.49% at this stage. This figure means that SDRL share price today is being oversold.
Technical chart claims that Seadrill Limited (SDRL) would settle between $3.66/share to $3.81/share level. However, if the stock price goes below the $3.21 mark, then the market for Seadrill Limited becomes much weaker. If that happens, the stock price might even plunge as low as $2.91 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.52. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BTIG Research lowered their recommendation on shares of SDRL from Buy to Neutral in their opinion released on August 13. Societe Generale analysts have lowered their rating of Seadrill Limited (NYSE:SDRL) stock from Hold to Sell in a separate flash note issued to investors on May 31. Analysts at Morgan Stanley lowered the stock to a Equal-Weight call from its previous Overweight recommendation, in a research note that dated back to January 28.
SDRL equity has an average rating of 3, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Seadrill Limited (NYSE:SDRL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SDRL stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is NA. Seadrill Limited current P/B ratio of NA means it is trading at a premium against its industry’s NA.