Seadrill (NYSE:SDRL) Stock Rating Upgraded by Barclays

Seadrill (NYSE:SDRL) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, MarketBeat Ratings reports. The firm presently has a $59.00 price target on the oil and gas company’s stock, up from their previous price target of $41.00. Barclays‘s price target indicates a potential upside of 22.23% from the company’s current price.

A number of other research firms have also recently issued reports on SDRL. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Tuesday, April 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a report on Thursday, April 2nd. BTIG Research boosted their price objective on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, April 17th. Citigroup boosted their price objective on Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Finally, Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Seadrill has an average rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Price Performance

SDRL opened at $48.27 on Thursday. The business has a fifty day moving average of $45.72 and a 200 day moving average of $38.36. Seadrill has a 52-week low of $22.30 and a 52-week high of $50.24. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.21. The stock has a market cap of $3.01 billion, a P/E ratio of -38.93 and a beta of 1.25.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%.The company had revenue of $362.00 million during the quarter, compared to analysts’ expectations of $335.36 million. As a group, sell-side analysts anticipate that Seadrill will post 0.76 EPS for the current year.

Institutional Investors Weigh In On Seadrill

Several hedge funds have recently made changes to their positions in SDRL. Monaco Asset Management SAM raised its position in shares of Seadrill by 23.7% in 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 acquiring an additional 51,047 shares in the last quarter. American Century Companies Inc. raised its position in shares of Seadrill by 64.4% in 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 acquiring an additional 346,409 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Seadrill in the 3rd quarter worth $758,000. DNB Asset Management AS raised its position in shares of Seadrill by 37.3% in 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 acquiring an additional 221,388 shares in the last quarter. Finally, Packer & Co Ltd bought a new position in shares of Seadrill in the 3rd quarter worth $13,597,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

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.