Seadrill (NYSE:SDRL) Stock Rating Upgraded by Citigroup

Seadrill (NYSE:SDRL) was upgraded by research analysts at Citigroup from a “sell” rating to a “neutral” rating in a research note issued on Thursday,Benzinga reports. The brokerage currently has a $46.00 price target on the oil and gas company’s stock, up from their previous price target of $32.00. Citigroup’s target price indicates a potential upside of 8.43% from the company’s previous close.

Several other brokerages have also recently issued reports on SDRL. Zacks Research cut Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Barclays boosted their price objective on Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings cut Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. BTIG Research increased their price objective on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, BWS Financial reiterated a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.00.

Seadrill Price Performance

SDRL opened at $42.42 on Thursday. The company has a 50-day moving average of $38.67 and a 200-day moving average of $33.81. The company has a market capitalization of $2.65 billion, a P/E ratio of -34.21 and a beta of 1.45. Seadrill has a 1-year low of $17.74 and a 1-year high of $45.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.89 and a current ratio of 2.03.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 EPS 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 business had revenue of $362.00 million during the quarter, compared to the consensus estimate of $335.36 million. Equities analysts expect that Seadrill will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Seadrill

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDRL. Raymond James Financial Inc. acquired a new stake in Seadrill during the second quarter valued at $27,000. Aquatic Capital Management LLC acquired a new stake in shares of Seadrill during the 3rd quarter valued at about $44,000. EverSource Wealth Advisors LLC bought a new stake in shares of Seadrill in the 2nd quarter valued at approximately $42,000. CIBC Private Wealth Group LLC acquired a new position in Seadrill in the third quarter worth approximately $61,000. Finally, Farther Finance Advisors LLC raised its position in Seadrill by 19.7% during the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 343 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.