Brokerages Set Seadrill Limited (NYSE:SDRL) Target Price at $43.20

Shares of Seadrill Limited (NYSE:SDRL) have received an average recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $43.20.

A number of research firms have weighed in on SDRL. Weiss Ratings restated a “hold (c-)” rating on shares of Seadrill in a research note on Wednesday, October 8th. SEB Equity Research set a $33.00 price target on Seadrill in a research note on Monday, September 1st. Citigroup raised their price target on Seadrill from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Barclays began coverage on Seadrill in a research note on Tuesday, October 7th. They issued an “equal weight” rating and a $33.00 price target for the company.

Seadrill Stock Up 0.5%

Shares of Seadrill stock opened at $31.71 on Friday. Seadrill has a 1 year low of $17.74 and a 1 year high of $42.36. The business has a 50-day moving average of $31.53 and a two-hundred day moving average of $28.31. The company has a market capitalization of $1.97 billion, a P/E ratio of 28.31 and a beta of 1.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.87 and a quick ratio of 1.87.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($1.36). The business had revenue of $377.00 million during the quarter, compared to the consensus estimate of $365.73 million. Seadrill had a return on equity of 1.58% and a net margin of 5.68%. As a group, equities analysts predict that Seadrill will post 1.86 EPS for the current year.

Institutional Trading of Seadrill

Hedge funds have recently made changes to their positions in the business. Schf GPE LLC acquired a new stake in Seadrill during the 2nd quarter worth approximately $60,132,000. Adage Capital Partners GP L.L.C. lifted its holdings in Seadrill by 22.5% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,200,535 shares of the oil and gas company’s stock worth $105,013,000 after purchasing an additional 771,366 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its holdings in Seadrill by 151.9% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,200,201 shares of the oil and gas company’s stock worth $30,149,000 after purchasing an additional 723,827 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Seadrill by 77.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock worth $37,256,000 after purchasing an additional 617,521 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Seadrill by 498.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock worth $16,140,000 after purchasing an additional 512,074 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

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.