Seadrill (NYSE:SDRL) Price Target Raised to $55.00

Seadrill (NYSE:SDRL) had its price objective increased by analysts at Citigroup from $54.00 to $55.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup‘s price objective indicates a potential upside of 20.96% from the company’s current price.

Several other analysts have also issued reports on the stock. BWS Financial restated a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Wednesday, October 14th. Zacks Research cut shares of Seadrill from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Barclays boosted their price objective on shares of Seadrill from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

Seadrill Stock Performance

NYSE:SDRL traded up $0.62 on Friday, hitting $45.47. The stock had a trading volume of 639,343 shares, compared to its average volume of 779,942. The business’s 50-day simple moving average is $47.08 and its two-hundred day simple moving average is $45.27. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -156.79 and a beta of 1.17. Seadrill has a 52-week low of $28.65 and a 52-week high of $55.47. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.26.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.68). Seadrill had a negative net margin of 1.13% and a positive return on equity of 1.50%. The business had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $382.66 million. As a group, research analysts predict that Seadrill will post -0.30 earnings per share for the current year.

Institutional Investors Weigh In On Seadrill

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Elliott Investment Management L.P. raised its stake in Seadrill by 3.5% during the 1st quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company’s stock valued at $214,718,000 after purchasing an additional 160,327 shares during the period. BlackRock Inc. bought a new position in Seadrill in the 2nd quarter worth approximately $207,509,000. Dimensional Fund Advisors LP boosted its stake in Seadrill by 10.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company’s stock worth $161,671,000 after purchasing an additional 326,835 shares during the period. Patient Capital Management LLC bought a new position in Seadrill in the 2nd quarter worth approximately $73,876,000. Finally, Webs Creek Capital Management LP purchased a new stake in Seadrill during the 2nd quarter valued at approximately $49,368,299. 95.67% of the stock is owned by institutional investors.

Seadrill Company Profile

Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies. Its work supports the exploration and development of offshore energy resources. The company operates a fleet of offshore drilling units, including drillships, semi-submersible rigs and jack-up rigs. These units are designed for operations in different water depths and offshore conditions. Founded in 2005, Seadrill serves customers in offshore markets around the world. Its business focuses on providing rig operations and related drilling services rather than producing oil and gas itself.