Seadrill (NYSE:SDRL) Upgraded by Zacks Research to “Hold” Rating

Seadrill (NYSE:SDRL) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages also recently commented on SDRL. Citigroup downgraded shares of Seadrill from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $35.00 in a research note on Thursday, December 11th. Barclays dropped their price target on Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Dnb Carnegie upgraded Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. BWS Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Seadrill in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Seadrill has an average rating of “Hold” and a consensus target price of $41.60.

Seadrill Stock Performance

NYSE:SDRL opened at $34.99 on Thursday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.18 billion, a PE ratio of 76.07 and a beta of 1.54. Seadrill has a twelve month low of $17.74 and a twelve month high of $39.50. The stock’s 50-day simple moving average is $31.46 and its 200 day simple moving average is $30.60.

Seadrill (NYSE:SDRL) last posted its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.43). Seadrill had a return on equity of 0.10% and a net margin of 2.49%.The company had revenue of $363.00 million during the quarter, compared to the consensus estimate of $343.56 million. On average, analysts anticipate that Seadrill will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SDRL. Farther Finance Advisors LLC increased its stake in shares of Seadrill by 19.7% in the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 343 shares during the period. Amica Retiree Medical Trust boosted its holdings in Seadrill by 13.7% in the third quarter. Amica Retiree Medical Trust now owns 2,942 shares of the oil and gas company’s stock valued at $89,000 after acquiring an additional 355 shares during the last quarter. State of Wyoming increased its position in Seadrill by 9.8% during the 1st quarter. State of Wyoming now owns 5,162 shares of the oil and gas company’s stock valued at $129,000 after purchasing an additional 462 shares during the period. PNC Financial Services Group Inc. raised its holdings in Seadrill by 11.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,615 shares of the oil and gas company’s stock worth $139,000 after purchasing an additional 484 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Seadrill by 18.8% during the 2nd quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 558 shares during the last quarter. 95.67% of the stock is owned by 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.