Citigroup Reiterates Buy Rating for Seadrill (NYSE:SDRL)

Seadrill (NYSE:SDRL)‘s stock had its “buy” rating reiterated by stock analysts at Citigroup in a report issued on Wednesday, Marketbeat.com reports. They currently have a $36.00 price objective on the oil and gas company’s stock, up from their previous price objective of $35.00. Citigroup’s price target suggests a potential upside of 26.45% from the stock’s current price.

Several other research firms have also recently commented on SDRL. BWS Financial reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research report on Tuesday, May 13th. BTIG Research set a $28.00 price objective on shares of Seadrill in a research report on Monday, May 5th.

Seadrill Stock Performance

Shares of Seadrill stock opened at $28.47 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market cap of $1.77 billion, a P/E ratio of 5.38 and a beta of 1.55. The firm has a 50 day simple moving average of $23.44 and a 200 day simple moving average of $28.98. Seadrill has a fifty-two week low of $17.74 and a fifty-two week high of $56.46.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.48). Seadrill had a net margin of 27.49% and a return on equity of 4.68%. The company had revenue of $335.00 million during the quarter, compared to analyst estimates of $325.69 million. Sell-side analysts predict that Seadrill will post 1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. bought a new stake in shares of Seadrill in the 4th quarter valued at about $409,000. JPMorgan Chase & Co. grew its position in shares of Seadrill by 134.8% during the 4th quarter. JPMorgan Chase & Co. now owns 206,738 shares of the oil and gas company’s stock worth $8,048,000 after purchasing an additional 118,699 shares in the last quarter. Third Point LLC acquired a new stake in shares of Seadrill during the 4th quarter worth approximately $39,903,000. Tudor Investment Corp ET AL acquired a new stake in shares of Seadrill during the 4th quarter worth approximately $3,652,000. Finally, Lloyd Harbor Capital Management LLC acquired a new stake in Seadrill in the fourth quarter valued at approximately $7,786,000. 95.67% of the stock is owned by institutional investors.

About Seadrill

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.