Seadrill Limited (NYSE:SDRL) Stock Has Average Target Price of $59.40

Seadrill Limited (NYSE:SDRL) has been assigned an average recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $59.40.

A number of equities analysts have commented on the stock. Capital One Financial set a $55.00 price objective on shares of Seadrill and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th. Citigroup restated a “neutral” rating on shares of Seadrill in a research report on Monday, September 7th. Finally, Zacks Research raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th.

Seadrill Stock Down 0.0%

Seadrill stock opened at $45.56 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $46.38 and a 200 day simple moving average of $45.64. The company has a market cap of $2.85 billion, a P/E ratio of 1,518.53 and a beta of 1.22. Seadrill has a 1-year low of $28.10 and a 1-year high of $55.47.

Seadrill (NYSE:SDRL) last issued its earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.18. The business had revenue of $430.00 million for the quarter, compared to the consensus estimate of $388.46 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. Research analysts anticipate that Seadrill will post 0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seadrill

Several large investors have recently added to or reduced their stakes in SDRL. Engineers Gate Manager LP raised its stake in Seadrill by 7.2% during the 2nd quarter. Engineers Gate Manager LP now owns 23,772 shares of the oil and gas company’s stock worth $899,000 after buying an additional 1,592 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Seadrill during the second quarter worth $92,000. Squarepoint Ops LLC raised its holdings in shares of Seadrill by 8.4% in the second quarter. Squarepoint Ops LLC now owns 382,188 shares of the oil and gas company’s stock valued at $14,454,000 after purchasing an additional 29,588 shares during the last quarter. Arizona State Retirement System boosted its holdings in Seadrill by 5.7% during the second quarter. Arizona State Retirement System now owns 17,232 shares of the oil and gas company’s stock worth $652,000 after purchasing an additional 926 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC bought a new stake in Seadrill in the 2nd quarter worth about $2,135,000. Institutional investors and hedge funds own 95.67% of the company’s stock.

About Seadrill

Seadrill Limited is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, for exploration, development and production projects in deepwater and harsh-environment locations.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s activities have historically covered major offshore energy regions such as the North Sea, the Gulf of Mexico, Brazil and other markets in the Atlantic and international offshore basins.

Founded in 2005 and headquartered in Hamilton, Bermuda, Seadrill has expanded through fleet investments and industry transactions.