Seadrill (NYSE:SDRL) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Seadrill (NYSE:SDRL) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

A number of other analysts also recently commented on SDRL. BWS Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a report on Friday, January 23rd. Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Citigroup downgraded Seadrill from a “neutral” rating to a “sell” rating and cut their target price for the stock from $35.00 to $32.00 in a research note on Monday, January 12th. Barclays upped their price objective on shares of Seadrill from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. Finally, BTIG Research boosted their target price on shares of Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.80.

Seadrill Trading Up 3.1%

SDRL stock opened at $43.81 on Monday. Seadrill has a 12-month low of $17.74 and a 12-month high of $44.22. The business’s 50-day moving average is $36.23 and its 200 day moving average is $32.77. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 95.23 and a beta of 1.54.

Hedge Funds Weigh In On Seadrill

Several institutional investors have recently bought and sold shares of SDRL. Raymond James Financial Inc. acquired a new stake in shares of Seadrill during the second quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new stake in Seadrill during the 2nd quarter worth approximately $42,000. Aquatic Capital Management LLC purchased a new position in Seadrill in the 3rd quarter valued at approximately $44,000. CIBC Private Wealth Group LLC acquired a new position in shares of Seadrill in the third quarter worth $61,000. Finally, Farther Finance Advisors LLC increased its position in shares of Seadrill by 19.7% during the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 343 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

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.