Seadrill (NYSE:SDRL) Rating Increased to Strong-Buy at Capital One Financial

Capital One Financial upgraded shares of Seadrill (NYSE:SDRL) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on SDRL. BWS Financial reaffirmed a “buy” rating and issued a $80.00 target price on shares of Seadrill in a research report on Monday. Fearnley Fonds raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Citigroup boosted their price objective on shares of Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Barclays raised shares of Seadrill from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Seadrill Trading Up 2.6%

NYSE SDRL opened at $38.81 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22. Seadrill has a twelve month low of $27.24 and a twelve month high of $55.47. The firm has a market capitalization of $2.43 billion, a PE ratio of -34.65 and a beta of 1.27. The stock’s 50 day moving average is $46.15 and its 200 day moving average is $42.38.

Seadrill (NYSE:SDRL) last posted its quarterly earnings data on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $358.00 million during the quarter, compared to the consensus estimate of $326.75 million. Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%. Research analysts forecast that Seadrill will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Several institutional investors and hedge funds have recently modified their holdings of SDRL. Raymond James Financial Inc. bought a new position in Seadrill in the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC bought a new stake in Seadrill during the 2nd quarter valued at about $42,000. Aquatic Capital Management LLC bought a new stake in Seadrill during the 3rd quarter valued at about $44,000. CIBC Private Wealth Group LLC purchased a new position in Seadrill in the third quarter worth about $61,000. Finally, Farther Finance Advisors LLC raised its holdings in Seadrill by 20.2% in the fourth quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock worth $87,000 after buying an additional 422 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.

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.