Seadrill (NYSE:SDRL) Upgraded at Zacks Research

Seadrill (NYSE:SDRL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Other equities research analysts have also recently issued reports about the company. Citigroup reiterated a “neutral” rating on shares of Seadrill in a report on Monday, September 7th. BWS Financial reissued a “buy” rating and set a $80.00 target price on shares of Seadrill in a report on Tuesday, August 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th. Finally, Capital One Financial set a $55.00 price target on Seadrill and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Seadrill has a consensus rating of “Buy” and an average target price of $59.40.

Seadrill Stock Performance

SDRL opened at $49.72 on Monday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 1,657.33 and a beta of 1.22. Seadrill has a 52-week low of $28.10 and a 52-week high of $55.47. The firm’s fifty day simple moving average is $45.49 and its two-hundred day simple moving average is $45.40.

Seadrill (NYSE:SDRL) last announced its earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. The business had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. Equities analysts anticipate that Seadrill will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP boosted its stake in Seadrill by 7.2% during the second quarter. Engineers Gate Manager LP now owns 23,772 shares of the oil and gas company’s stock worth $899,000 after buying an additional 1,592 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Seadrill in the 2nd quarter worth $92,000. Squarepoint Ops LLC raised its holdings in shares of Seadrill by 8.4% during the 2nd quarter. Squarepoint Ops LLC now owns 382,188 shares of the oil and gas company’s stock worth $14,454,000 after acquiring an additional 29,588 shares during the period. Arizona State Retirement System raised its holdings in shares of Seadrill by 5.7% during the 2nd quarter. Arizona State Retirement System now owns 17,232 shares of the oil and gas company’s stock worth $652,000 after acquiring an additional 926 shares during the period. Finally, BTG Pactual Asset Management US LLC purchased a new position in shares of Seadrill during the 2nd quarter worth $2,135,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

Seadrill Company Profile

Seadrill Limited is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, for exploration, development and production projects in deepwater and harsh-environment locations.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s activities have historically covered major offshore energy regions such as the North Sea, the Gulf of Mexico, Brazil and other markets in the Atlantic and international offshore basins.

Founded in 2005 and headquartered in Hamilton, Bermuda, Seadrill has expanded through fleet investments and industry transactions.