Seadrill (NYSE:SDRL) Upgraded by Citigroup to “Neutral” Rating

Citigroup upgraded shares of Seadrill (NYSE:SDRL) from a sell rating to a neutral rating in a research note published on Thursday, Marketbeat reports. They currently have $46.00 price target on the oil and gas company’s stock, up from their prior price target of $32.00.

Other analysts have also issued reports about the company. Zacks Research lowered Seadrill from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. BWS Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research report on Friday, January 23rd. Barclays upped 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. BTIG Research lifted their price objective on shares of Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Finally, Weiss Ratings cut shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.00.

Seadrill Stock Up 3.1%

SDRL stock opened at $43.71 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $38.88 and a 200-day simple moving average of $33.88. The company has a market capitalization of $2.73 billion, a P/E ratio of -35.25 and a beta of 1.45. Seadrill has a twelve month low of $17.74 and a twelve month high of $45.90.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The firm had revenue of $362.00 million for the quarter, compared to the consensus estimate of $335.36 million. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. On average, equities research analysts predict that Seadrill will post 1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Several hedge funds and other institutional investors have recently modified their holdings of SDRL. Farther Finance Advisors LLC grew its position in shares of Seadrill by 19.7% during the third quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 343 shares during the last quarter. Amica Retiree Medical Trust boosted its stake in Seadrill by 13.7% during the 3rd quarter. Amica Retiree Medical Trust now owns 2,942 shares of the oil and gas company’s stock valued at $89,000 after purchasing an additional 355 shares during the period. PNC Financial Services Group Inc. grew its position in Seadrill by 11.7% in 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. Osaic Holdings Inc. increased its stake in shares of Seadrill by 18.8% in the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock valued at $92,000 after purchasing an additional 558 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Seadrill by 1.0% during the third quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock valued at $2,176,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds 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.