Wall Street Zen Upgrades Seadrill (NYSE:SDRL) to “Hold”

Seadrill (NYSE:SDRL) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on SDRL. BTIG Research upped their target price on Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Weiss Ratings downgraded shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. Citigroup upgraded shares of Seadrill from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $32.00 to $46.00 in a report on Thursday. Zacks Research cut shares of Seadrill from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Finally, Barclays increased their target price on shares of Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Seadrill has a consensus rating of “Hold” and a consensus target price of $48.00.

Seadrill Trading Down 3.9%

Shares of SDRL stock opened at $42.00 on Friday. The business has a 50-day moving average price of $39.06 and a two-hundred day moving average price of $34.04. Seadrill has a 12-month low of $17.74 and a 12-month high of $45.90. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.62 billion, a P/E ratio of -33.87 and a beta of 1.45.

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

Hedge Funds Weigh In On Seadrill

A number of large investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in shares of Seadrill by 554.6% during the second quarter. Legal & General Group Plc now owns 69,010 shares of the oil and gas company’s stock valued at $1,812,000 after purchasing an additional 58,467 shares during the period. JPMorgan Chase & Co. increased its stake 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 buying an additional 512,074 shares during the period. Monaco Asset Management SAM raised its holdings in Seadrill by 23.7% during the 3rd quarter. Monaco Asset Management SAM now owns 266,047 shares of the oil and gas company’s stock valued at $8,037,000 after buying an additional 51,047 shares during the last quarter. Packer & Co Ltd bought a new stake in Seadrill during the 3rd quarter valued at $13,597,000. Finally, Magnetar Financial LLC purchased a new stake in Seadrill during the 2nd quarter valued at $548,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

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.