Seadrill (NYSE:SDRL) Upgraded at Barclays

Seadrill (NYSE:SDRL) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Thursday. The firm currently has a $59.00 price objective on the oil and gas company’s stock. Barclays‘s target price would indicate a potential upside of 22.15% from the company’s previous close.

Several other analysts have also commented on the stock. Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. BTIG Research boosted their price target on Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. Finally, BWS Financial reissued a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Seadrill currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Trading Down 1.2%

Shares of SDRL stock opened at $48.30 on Thursday. The stock has a market cap of $3.02 billion, a P/E ratio of -38.95 and a beta of 1.25. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.21. Seadrill has a fifty-two week low of $22.30 and a fifty-two week high of $50.24. The business has a fifty day simple moving average of $45.67 and a 200-day simple moving average of $38.23.

Seadrill (NYSE:SDRL) last issued its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. The firm had revenue of $362.00 million for the quarter, compared to analysts’ expectations of $335.36 million. On average, analysts forecast that Seadrill will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seadrill

A number of large investors have recently bought and sold shares of the stock. Monaco Asset Management SAM grew its stake in shares of Seadrill by 23.7% during the 3rd quarter. Monaco Asset Management SAM now owns 266,047 shares of the oil and gas company’s stock valued at $8,037,000 after buying an additional 51,047 shares during the period. American Century Companies Inc. raised its position in shares of Seadrill by 64.4% in the 3rd quarter. American Century Companies Inc. now owns 884,430 shares of the oil and gas company’s stock worth $26,719,000 after buying an additional 346,409 shares during the period. Quantbot Technologies LP purchased a new position in shares of Seadrill in the 3rd quarter worth $758,000. DNB Asset Management AS boosted its holdings in Seadrill by 37.3% in the third quarter. DNB Asset Management AS now owns 815,644 shares of the oil and gas company’s stock valued at $24,641,000 after acquiring an additional 221,388 shares during the last quarter. Finally, Packer & Co Ltd purchased a new stake in Seadrill during the third quarter valued at about $13,597,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

About Seadrill

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.