Seadrill (NYSE:SDRL) Given Buy Rating at Citigroup

Citigroup restated their buy rating on shares of Seadrill (NYSE:SDRL) in a research note published on Wednesday, Marketbeat Ratings reports. They currently have a $36.00 price target on the oil and gas company’s stock, up from their prior price target of $35.00.

Several other research analysts also recently commented on the company. BTIG Research set a $28.00 target price on Seadrill in a research note on Monday, May 5th. BWS Financial reaffirmed a “buy” rating and issued a $80.00 price target on shares of Seadrill in a report on Tuesday, May 13th.

Seadrill Price Performance

Shares of NYSE:SDRL opened at $28.03 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. Seadrill has a twelve month low of $17.74 and a twelve month high of $56.46. The stock’s 50 day moving average is $23.80 and its 200-day moving average is $28.97. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 5.30 and a beta of 1.55.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.48). The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $325.69 million. Seadrill had a return on equity of 4.68% and a net margin of 27.49%. Sell-side analysts forecast that Seadrill will post 1.86 EPS for the current fiscal year.

Institutional Trading of Seadrill

Several institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Seadrill in the 1st quarter valued at about $615,000. Empowered Funds LLC purchased a new position in shares of Seadrill during the 1st quarter valued at about $6,007,000. Mountain Lake Investment Management LLC raised its holdings in shares of Seadrill by 27.8% during the 1st quarter. Mountain Lake Investment Management LLC now owns 197,639 shares of the oil and gas company’s stock valued at $4,941,000 after buying an additional 42,939 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Seadrill during the 1st quarter valued at about $10,390,000. Finally, AQR Capital Management LLC raised its holdings in shares of Seadrill by 333.6% during the 1st quarter. AQR Capital Management LLC now owns 219,678 shares of the oil and gas company’s stock valued at $5,492,000 after buying an additional 169,014 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

About Seadrill

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.