Seadrill (NYSE:SDRL) Stock Price Target Raised at Barclays

Seadrill (NYSE:SDRL) had its price target increased by stock analysts at Barclays from $59.00 to $61.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target suggests a potential upside of 42.80% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. BWS Financial reaffirmed a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research note on Wednesday, October 14th. Weiss Ratings raised Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 9th. Zacks Research downgraded Seadrill from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Seadrill in a research report on Monday, September 7th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.80.

Seadrill Stock Up 1.2%

Seadrill stock traded up $0.52 during trading hours on Monday, hitting $42.72. The company had a trading volume of 88,560 shares, compared to its average volume of 781,768. Seadrill has a fifty-two week low of $28.10 and a fifty-two week high of $55.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 2.18. The firm has a market capitalization of $2.67 billion, a P/E ratio of -146.74 and a beta of 1.17. The firm’s fifty day moving average is $47.49 and its 200-day moving average is $45.16.

Seadrill (NYSE:SDRL) last issued its earnings results on Tuesday, November 3rd. The oil and gas company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.68). The company had revenue of $428.00 million for the quarter, compared to analyst estimates of $382.66 million. Seadrill had a negative net margin of 1.13% and a positive return on equity of 1.50%. On average, research analysts forecast that Seadrill will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Seadrill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in Seadrill by 18.3% in the third quarter. Russell Investments Group Ltd. now owns 122,301 shares of the oil and gas company’s stock valued at $5,463,000 after acquiring an additional 18,915 shares during the last quarter. Deuterium Capital Management LLC acquired a new position in shares of Seadrill during the 3rd quarter worth $223,000. Allspring Global Investments Holdings LLC increased its stake in shares of Seadrill by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,520 shares of the oil and gas company’s stock worth $249,000 after purchasing an additional 342 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Seadrill by 19.5% during the 3rd quarter. Pictet Asset Management Holding SA now owns 10,984 shares of the oil and gas company’s stock worth $491,000 after purchasing an additional 1,792 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Seadrill by 55.2% during the 3rd quarter. Parallel Advisors LLC now owns 737 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 262 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

About Seadrill