Seadrill Limited (NYSE:SDRL) Receives $55.00 Average PT from Analysts

Shares of Seadrill Limited (NYSE:SDRL) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $55.00.

Several brokerages have weighed in on SDRL. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. Barclays raised shares of Seadrill from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. BWS Financial reaffirmed a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research report on Tuesday, April 7th. Citigroup lifted their target price on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Finally, BTIG Research boosted their target price on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 17th.

Institutional Investors Weigh In On Seadrill

Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Seadrill during the 2nd quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill during the second quarter worth about $42,000. Aquatic Capital Management LLC acquired a new stake in shares of Seadrill during the third quarter worth about $44,000. CIBC Private Wealth Group LLC purchased a new position in shares of Seadrill in the third quarter valued at approximately $61,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Seadrill in the third quarter valued at approximately $68,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Seadrill Price Performance

NYSE:SDRL opened at $49.73 on Wednesday. Seadrill has a 52 week low of $22.86 and a 52 week high of $55.47. The stock’s fifty day moving average is $47.87 and its two-hundred day moving average is $40.22. The company has a market capitalization of $3.11 billion, a P/E ratio of -44.40 and a beta of 1.25. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $326.75 million. Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%. Equities analysts expect that Seadrill will post 0.04 EPS for the current year.

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.