Seadrill Limited (NYSE:SDRL) Receives $48.00 Average Price Target from Brokerages

Seadrill Limited (NYSE:SDRL) has been given an average recommendation of “Hold” by the eight analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $48.00.

SDRL has been the subject of several recent analyst reports. BTIG Research raised their price objective on shares of Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 9th. BWS Financial restated a “buy” rating and set a $80.00 price target on shares of Seadrill in a research report on Friday, January 23rd. Barclays raised their price target on Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th.

Seadrill Stock Up 2.6%

SDRL opened at $45.71 on Tuesday. The firm’s 50-day simple moving average is $42.58 and its 200-day simple moving average is $35.64. 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 has a twelve month low of $17.74 and a twelve month high of $48.00. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -36.86 and a beta of 1.31.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elliott Investment Management L.P. increased its position in Seadrill by 23.1% in the 4th quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock valued at $157,733,000 after acquiring an additional 855,012 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Seadrill by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 3,807,933 shares of the oil and gas company’s stock worth $131,754,000 after acquiring an additional 23,672 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Seadrill by 12.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,484,940 shares of the oil and gas company’s stock worth $120,579,000 after purchasing an additional 373,176 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Seadrill by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,226,446 shares of the oil and gas company’s stock valued at $111,635,000 after purchasing an additional 34,511 shares during the last quarter. Finally, Schf GPE LLC bought a new stake in shares of Seadrill during the second quarter valued at approximately $60,132,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

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.