Seadrill (NYSE:SDRL) Rating Increased to Strong-Buy at Fearnley Fonds

Fearnley Fonds upgraded shares of Seadrill (NYSE:SDRL) from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. BWS Financial reissued a “buy” rating and set a $80.00 target price on shares of Seadrill in a research report on Tuesday, April 7th. Citigroup boosted their price objective on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Stock Performance

Shares of NYSE:SDRL opened at $49.99 on Tuesday. The firm has a 50 day moving average of $46.04 and a 200 day moving average of $38.77. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -44.63 and a beta of 1.25. Seadrill has a 52 week low of $22.30 and a 52 week high of $51.68.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $358.00 million during the quarter, compared to the consensus estimate of $326.75 million. Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. On average, sell-side analysts predict that Seadrill will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Several institutional investors and hedge funds have recently modified their holdings of SDRL. Schf GPE LLC purchased a new stake in shares of Seadrill in the second quarter worth about $60,132,000. Elliott Investment Management L.P. raised its position in Seadrill by 23.1% during the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock valued at $157,733,000 after acquiring an additional 855,012 shares in the last quarter. Thomist Capital Management LP lifted its holdings in Seadrill by 44.6% in the fourth quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company’s stock valued at $63,387,000 after acquiring an additional 566,419 shares during the period. Goehring & Rozencwajg Associates LLC lifted its holdings in 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 valued at $111,455,000 after acquiring an additional 529,884 shares during the period. Finally, Packer & Co Ltd purchased a new stake in Seadrill in the 3rd quarter worth approximately $13,597,000. Institutional investors and hedge funds 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.