Seadrill (NYSE:SDRL) Given New $40.00 Price Target at BTIG Research

Seadrill (NYSE:SDRL) had its price objective raised by BTIG Research from $33.00 to $40.00 in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the stock. Citigroup downgraded shares of Seadrill from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $35.00 in a research note on Thursday, December 11th. BWS Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research note on Wednesday, December 17th. Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Dnb Carnegie upgraded Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Barclays reduced their price target on Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Seadrill has a consensus rating of “Hold” and a consensus price target of $44.00.

Seadrill Stock Performance

Shares of SDRL opened at $35.47 on Friday. Seadrill has a 1 year low of $17.74 and a 1 year high of $39.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.89 and a quick ratio of 1.89. The stock’s fifty day moving average price is $31.80 and its two-hundred day moving average price is $30.83. The firm has a market cap of $2.21 billion, a PE ratio of 77.11 and a beta of 1.54.

Seadrill (NYSE:SDRL) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.43). Seadrill had a return on equity of 0.10% and a net margin of 2.49%.The firm had revenue of $363.00 million during the quarter, compared to analysts’ expectations of $343.56 million. On average, equities research analysts forecast that Seadrill will post 1.86 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Seadrill during the second quarter worth about $498,000. Legal & General Group Plc boosted its position in shares of Seadrill by 554.6% during the 2nd quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock valued at $1,812,000 after acquiring an additional 58,467 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Seadrill by 498.2% in the second 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. AQR Capital Management LLC increased its position in shares of Seadrill by 333.6% in the first quarter. AQR Capital Management LLC now owns 219,678 shares of the oil and gas company’s stock worth $5,492,000 after purchasing an additional 169,014 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Seadrill by 679.3% in the second quarter. Signaturefd LLC now owns 1,886 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 1,644 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

About Seadrill

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.