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

Seadrill (NYSE:SDRL) had its price objective raised by research analysts at Barclays from $39.00 to $41.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target would indicate a potential downside of 4.37% from the stock’s current price.

Other analysts also recently issued reports about the company. BTIG Research raised their target price on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 9th. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research note on Friday, January 23rd. Zacks Research downgraded Seadrill from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Citigroup cut Seadrill from a “neutral” rating to a “sell” rating and reduced their target price for the company from $35.00 to $32.00 in a research note on Monday, January 12th. Finally, Dnb Carnegie raised shares of Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.20.

Seadrill Trading Down 1.8%

SDRL opened at $42.87 on Monday. The firm’s 50 day moving average is $38.48 and its 200-day moving average is $33.75. Seadrill has a 52-week low of $17.74 and a 52-week high of $45.90. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.68 billion, a P/E ratio of -34.57 and a beta of 1.45.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. The business had revenue of $362.00 million during the quarter, compared to analyst estimates of $335.36 million. Analysts expect that Seadrill will post 1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schf GPE LLC bought a new position in Seadrill during the second quarter worth $60,132,000. Elliott Investment Management L.P. raised its holdings in shares of Seadrill by 23.1% during the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock worth $157,733,000 after purchasing an additional 855,012 shares during the period. Geode Capital Management LLC lifted its position in shares of Seadrill by 77.0% in 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 buying an additional 617,521 shares during the last quarter. Thomist Capital Management LP lifted its position in shares of Seadrill by 44.6% in the 4th quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company’s stock worth $63,387,000 after buying an additional 566,419 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Seadrill by 498.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after buying an additional 512,074 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

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.