Seadrill (NYSE:SDRL) Price Target Raised to $40.00

Seadrill (NYSE:SDRL) had its price objective boosted by BTIG Research from $33.00 to $40.00 in a research note released on Friday, Marketbeat Ratings reports. BTIG Research currently has a buy rating on the oil and gas company’s stock.

SDRL has been the subject of several other reports. Barclays lowered their price objective on shares of Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. BWS Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a report on Wednesday, December 17th. Finally, Citigroup lowered Seadrill from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $42.00 to $35.00 in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.00.

Seadrill Stock Performance

NYSE:SDRL opened at $35.47 on Friday. The firm has a market cap of $2.21 billion, a PE ratio of 77.11 and a beta of 1.54. Seadrill has a fifty-two week low of $17.74 and a fifty-two week high of $39.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.89 and a current ratio of 1.89. The business has a 50 day moving average price of $31.80 and a 200-day moving average price of $30.90.

Seadrill (NYSE:SDRL) last issued its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.43). The firm had revenue of $363.00 million during the quarter, compared to analysts’ expectations of $343.56 million. Seadrill had a return on equity of 0.10% and a net margin of 2.49%. Equities research analysts predict that Seadrill will post 1.86 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Seadrill in the second quarter worth $27,000. GAMMA Investing LLC boosted its holdings in shares of Seadrill by 319.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,237 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 942 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Seadrill during the 2nd quarter valued at $42,000. Aquatic Capital Management LLC purchased a new stake in shares of Seadrill in the 3rd quarter worth about $44,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Seadrill by 34.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,743 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Seadrill Company Profile

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.