SDRL Stock Summary and Trading Ideas (Seadrill Limited Common Shares | NYSE:SDRL)

Seadrill Ltd is an offshore drilling contractor company. The company is engaged in providing offshore drilling services to the oil and gas industry. The primary business of the company is the ownership and operation of drillships, semi-submersible rigs, and jack-up rigs for operations in shallow to ultra-deepwater areas in both benign and harsh environments. The geographical segments of the company are the United States, Brazil, Angola, Norway, and others. The company derives maximum revenue from the United States.

Seadrill Limited Common Shares trades on the NYSE stock market under the symbol SDRL.

As of April 15, 2024, SDRL stock price declined to $51.32 with 318,923 million shares trading.

SDRL has a beta of 0.96, meaning it tends to be less sensitive to market movements. SDRL has a correlation of 0.16 to the broad based SPY ETF.

SDRL has a market cap of $3.64 billion. This is considered a Mid Cap stock.

Last quarter Seadrill Limited Common Shares reported $408 million in Revenue and $.95 earnings per share. This beat revenue expectation by $25 million and exceeded earnings estimates by $.29.

The top ETF exchange traded funds that SDRL belongs to (by Net Assets): IWM, IWN, DFAT, VTWO, DFSV.

SDRL has outperformed the market in the last year with a price return of +37.3% while the SPY ETF gained +25.3%. SDRL has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +12.1% and +2.0%, respectively, while the SPY returned +6.2% and -3.6%, respectively.

SDRL support price is $50.63 and resistance is $52.47 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SDRL stock will trade within this expected range on the day.