Seadrill (NYSE:SDRL) Given Buy Rating at BWS Financial

Seadrill (NYSE:SDRL)‘s stock had its “buy” rating reiterated by stock analysts at BWS Financial in a report released on Wednesday, Benzinga reports. They currently have a $80.00 price objective on the oil and gas company’s stock. BWS Financial’s target price would indicate a potential upside of 70.93% from the company’s previous close.

Other equities analysts have also issued reports about the company. Zacks Research raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Weiss Ratings raised Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Citigroup reiterated a “neutral” rating on shares of Seadrill in a report on Monday, September 7th. Finally, Capital One Financial set a $55.00 target price on Seadrill and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Seadrill currently has a consensus rating of “Buy” and a consensus target price of $59.40.

Seadrill Price Performance

SDRL traded down $2.20 during midday trading on Wednesday, hitting $46.80. The company had a trading volume of 1,005,900 shares, compared to its average volume of 779,466. Seadrill has a twelve month low of $28.10 and a twelve month high of $55.47. The firm’s 50-day simple moving average is $46.86 and its 200-day simple moving average is $45.77. The company has a market capitalization of $2.93 billion, a PE ratio of 1,560.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.

Seadrill (NYSE:SDRL) last announced its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. The firm had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $388.46 million. Equities research analysts predict that Seadrill will post 0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Several institutional investors and hedge funds have recently modified their holdings of SDRL. Contravisory Investment Management Inc. boosted its stake in shares of Seadrill by 16.0% in the third quarter. Contravisory Investment Management Inc. now owns 7,985 shares of the oil and gas company’s stock valued at $357,000 after buying an additional 1,103 shares during the period. GAMMA Investing LLC increased its stake in Seadrill by 38.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,523 shares of the oil and gas company’s stock worth $113,000 after acquiring an additional 698 shares during the period. Farther Finance Advisors LLC increased its stake in Seadrill by 137.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 17,519 shares of the oil and gas company’s stock worth $783,000 after acquiring an additional 10,129 shares during the period. Engineers Gate Manager LP raised its holdings in Seadrill by 7.2% in the 2nd quarter. Engineers Gate Manager LP now owns 23,772 shares of the oil and gas company’s stock valued at $899,000 after acquiring an additional 1,592 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Seadrill in the 2nd quarter valued at $92,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Seadrill Company Profile

Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, used to explore for and develop oil and natural gas resources in deepwater and other challenging marine environments.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s fleet is designed to serve a range of offshore projects, with operations and contract activity spanning major energy-producing regions such as the Gulf of Mexico, Brazil, the North Sea, West Africa and other international markets.

Seadrill was founded in 2005 and has expanded through fleet development, acquisitions and strategic transactions.