Seadrill (NYSE:SDRL) Upgraded at Citigroup

Citigroup upgraded shares of Seadrill (NYSE:SDRL) from a sell rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. The firm currently has $46.00 target price on the oil and gas company’s stock, up from their prior target price of $32.00.

A number of other research firms have also recently issued reports on SDRL. Zacks Research cut shares of Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Weiss Ratings cut shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Barclays upped their price target on shares of 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 set a $80.00 price objective on shares of Seadrill in a report on Friday, January 23rd. Finally, BTIG Research boosted their price objective on Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.00.

Seadrill Stock Performance

NYSE:SDRL opened at $42.00 on Thursday. The stock’s 50-day simple moving average is $39.06 and its 200 day simple moving average is $34.01. The firm has a market capitalization of $2.62 billion, a PE ratio of -33.87 and a beta of 1.45. The company has a quick ratio of 1.89, a current ratio of 2.03 and a debt-to-equity ratio of 0.21. Seadrill has a twelve month low of $17.74 and a twelve month high of $45.90.

Seadrill (NYSE:SDRL) last issued its earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 EPS 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 firm had revenue of $362.00 million during the quarter, compared to the consensus estimate of $335.36 million. On average, analysts anticipate that Seadrill will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SDRL. Raymond James Financial Inc. bought a new position in Seadrill during the 2nd quarter worth approximately $27,000. Aquatic Capital Management LLC acquired a new position in shares of Seadrill during the 3rd quarter valued at $44,000. EverSource Wealth Advisors LLC bought a new position in Seadrill during the second quarter worth $42,000. CIBC Private Wealth Group LLC acquired a new position in Seadrill during the 3rd quarter worth approximately $61,000. Finally, Farther Finance Advisors LLC raised its holdings in 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 buying an additional 343 shares during the last quarter. 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.