Seadrill (NYSE:SDRL) Upgraded by Barclays to “Overweight” Rating

Barclays upgraded shares of Seadrill (NYSE:SDRL) from an equal weight rating to an overweight rating in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $59.00 price target on the oil and gas company’s stock, up from their previous price target of $41.00.

A number of other brokerages also recently commented on SDRL. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. BWS Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research report on Tuesday, April 7th. BTIG Research upped their target price on shares of Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One equities 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Stock Up 1.6%

Shares of SDRL stock traded up $0.77 during trading hours on Thursday, reaching $48.48. The company had a trading volume of 182,722 shares, compared to its average volume of 833,931. The company has a market capitalization of $3.03 billion, a P/E ratio of -39.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.03 and a current ratio of 2.03. Seadrill has a twelve month low of $22.30 and a twelve month high of $50.24. The stock’s fifty day simple moving average is $45.72 and its 200 day simple moving average is $38.36.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%.The firm had revenue of $362.00 million during the quarter, compared to analysts’ expectations of $335.36 million. As a group, sell-side analysts expect that Seadrill will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDRL. Schf GPE LLC acquired a new stake in shares of Seadrill during the 2nd quarter valued at about $60,132,000. Elliott Investment Management L.P. boosted its holdings in Seadrill by 23.1% in the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock worth $157,733,000 after purchasing an additional 855,012 shares in the last quarter. Thomist Capital Management LP increased its position in Seadrill by 44.6% during the fourth quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company’s stock worth $63,387,000 after buying an additional 566,419 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Seadrill by 27.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 2,449,565 shares of the oil and gas company’s stock worth $111,455,000 after buying an additional 529,884 shares during the last quarter. Finally, Packer & Co Ltd bought a new position in shares of Seadrill in the 3rd quarter valued at approximately $13,597,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

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.