Barclays Has Lowered Expectations for Seadrill (NYSE:SDRL) Stock Price

Seadrill (NYSE:SDRL) had its price target cut by Barclays from $33.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective suggests a potential upside of 3.65% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup increased their target price on Seadrill from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. SEB Equity Research set a $33.00 price objective on Seadrill in a research report on Monday, September 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Seadrill in a report on Wednesday, October 8th. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Dnb Carnegie upgraded shares of Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Seadrill Trading Up 8.7%

Shares of SDRL opened at $30.87 on Monday. Seadrill has a 1-year low of $17.74 and a 1-year high of $42.24. The company has a market capitalization of $1.92 billion, a P/E ratio of 27.57 and a beta of 1.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.87 and a quick ratio of 1.87. The firm’s 50 day simple moving average is $31.29 and its 200 day simple moving average is $28.69.

Seadrill (NYSE:SDRL) last issued its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.43). The company had revenue of $363.00 million during the quarter, compared to the consensus estimate of $343.56 million. Seadrill had a return on equity of 1.58% and a net margin of 5.68%. Seadrill has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Seadrill will post 1.86 earnings per share for the current fiscal year.

Institutional Trading of Seadrill

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schf GPE LLC bought a new position in shares of Seadrill in the second quarter worth approximately $60,132,000. Adage Capital Partners GP L.L.C. raised 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 valued at $105,013,000 after buying an additional 771,366 shares during the last quarter. Geode Capital Management LLC boosted its position 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 valued at $37,256,000 after buying an additional 617,521 shares during the period. JPMorgan Chase & Co. grew its holdings in Seadrill by 498.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock worth $16,140,000 after acquiring an additional 512,074 shares during the last quarter. Finally, Packer & Co Ltd bought a new stake in Seadrill in the 3rd quarter worth $13,597,000. Institutional investors own 95.67% of the company’s stock.

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.