Seadrill (NYSE:SDRL) Given New $40.00 Price Target at BTIG Research

Seadrill (NYSE:SDRL) had its price target upped by analysts at BTIG Research from $33.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. BTIG Research’s price target suggests a potential upside of 14.22% from the stock’s previous close.

A number of other research firms also recently weighed in on SDRL. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research note on Tuesday, November 4th. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Wednesday, December 17th. Barclays lowered their target price on Seadrill from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Citigroup cut Seadrill from a “buy” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $35.00 in a report on Thursday, December 11th. Finally, Weiss Ratings downgraded shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $44.00.

Seadrill Stock Up 3.0%

Shares of NYSE SDRL opened at $35.02 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.18 billion, a PE ratio of 76.13 and a beta of 1.54. The company’s fifty day simple moving average is $31.72 and its 200 day simple moving average is $30.77. Seadrill has a 12-month low of $17.74 and a 12-month high of $39.27.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.43). The company had revenue of $363.00 million during the quarter, compared to the consensus estimate of $343.56 million. Seadrill had a net margin of 2.49% and a return on equity of 0.10%. As a group, sell-side analysts forecast that Seadrill will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several institutional investors have recently bought and sold shares of SDRL. Schf GPE LLC purchased a new position in Seadrill during the 2nd quarter worth $60,132,000. Patient Capital Management LLC boosted its holdings in Seadrill by 13.0% during the second quarter. Patient Capital Management LLC now owns 2,229,549 shares of the oil and gas company’s stock worth $58,526,000 after purchasing an additional 256,836 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in Seadrill by 0.7% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 1,695,114 shares of the oil and gas company’s stock worth $51,209,000 after purchasing an additional 11,113 shares during the last quarter. BNP Paribas Financial Markets grew its position in Seadrill by 0.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,681,094 shares of the oil and gas company’s stock worth $50,786,000 after purchasing an additional 13,481 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Seadrill by 77.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock worth $37,256,000 after purchasing an additional 617,521 shares in the last quarter. 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.