BTIG Research Forecasts Strong Price Appreciation for Seadrill (NYSE:SDRL) Stock

Seadrill (NYSE:SDRL) had its price objective lifted by stock analysts at BTIG Research from $50.00 to $55.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. BTIG Research’s price target points to a potential upside of 18.85% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a report on Thursday, April 2nd. Barclays lifted their price objective on Seadrill from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. BWS Financial reissued a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a report on Tuesday, April 7th. Citigroup lifted their price objective on Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wall Street Zen raised Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.40.

Seadrill Trading Down 2.0%

Shares of SDRL opened at $46.28 on Friday. The business has a 50-day moving average of $44.44 and a 200 day moving average of $36.83. Seadrill has a fifty-two week low of $19.60 and a fifty-two week high of $48.99. The firm has a market cap of $2.89 billion, a P/E ratio of -37.32 and a beta of 1.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.03 and a current ratio of 2.03.

Seadrill (NYSE:SDRL) last announced its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%.The company had revenue of $362.00 million during the quarter, compared to analyst estimates of $335.36 million. As a group, research analysts forecast that Seadrill will post 1.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SDRL. Raymond James Financial Inc. purchased a new position in Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC purchased a new position in Seadrill during the 2nd quarter valued at about $42,000. Aquatic Capital Management LLC purchased a new position in Seadrill during the 3rd quarter valued at about $44,000. CIBC Private Wealth Group LLC purchased a new position in Seadrill during the 3rd quarter valued at about $61,000. Finally, Farther Finance Advisors LLC grew its holdings in Seadrill by 19.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 343 shares in the last quarter. Hedge funds and other institutional investors 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.