Seadrill (NYSE:SDRL) Stock Price Expected to Rise, BTIG Research Analyst Says

Seadrill (NYSE:SDRL) had its price target raised by analysts at BTIG Research from $50.00 to $55.00 in a report released on Friday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. BTIG Research’s target price would indicate a potential upside of 16.74% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Barclays raised their price target on Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research report on Thursday, April 2nd. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Citigroup raised their price target on Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Zacks Research cut Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Seadrill presently has an average rating of “Hold” and an average target price of $51.40.

Seadrill Trading Up 2.5%

NYSE:SDRL opened at $47.11 on Friday. The stock has a fifty day moving average price of $44.31 and a two-hundred day moving average price of $36.67. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -37.99 and a beta of 1.31. 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 1 year low of $19.50 and a 1 year high of $48.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SDRL. Monaco Asset Management SAM increased its position 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 worth $8,037,000 after purchasing an additional 51,047 shares in the last quarter. American Century Companies Inc. increased its position in Seadrill by 64.4% during the 3rd quarter. American Century Companies Inc. now owns 884,430 shares of the oil and gas company’s stock worth $26,719,000 after purchasing an additional 346,409 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Seadrill during the 3rd quarter worth about $758,000. DNB Asset Management AS increased its position in Seadrill by 37.3% during the 3rd quarter. DNB Asset Management AS now owns 815,644 shares of the oil and gas company’s stock worth $24,641,000 after purchasing an additional 221,388 shares in the last quarter. Finally, Packer & Co Ltd purchased a new stake in Seadrill during the 3rd quarter worth about $13,597,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

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.