Citigroup Reiterates “Buy” Rating for Seadrill (NYSE:SDRL)

Seadrill (NYSE:SDRL)‘s stock had its “buy” rating reissued by equities research analysts at Citigroup in a report issued on Wednesday, Marketbeat.com reports. They presently have a $36.00 price target on the oil and gas company’s stock, up from their previous price target of $35.00. Citigroup’s price target would suggest a potential upside of 26.45% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. BWS Financial restated a “buy” rating and set a $80.00 price target on shares of Seadrill in a report on Tuesday, May 13th. BTIG Research set a $28.00 price target on Seadrill in a report on Monday, May 5th.

Seadrill Stock Performance

NYSE:SDRL opened at $28.47 on Wednesday. The company has a market capitalization of $1.77 billion, a PE ratio of 5.38 and a beta of 1.55. The company has a 50 day simple moving average of $23.64 and a two-hundred day simple moving average of $28.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.01 and a current ratio of 2.01. Seadrill has a fifty-two week low of $17.74 and a fifty-two week high of $56.46.

Seadrill (NYSE:SDRL) last released its earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.48). The firm had revenue of $335.00 million for the quarter, compared to analyst estimates of $325.69 million. Seadrill had a net margin of 27.49% and a return on equity of 4.68%. Research analysts anticipate that Seadrill will post 1.86 earnings per share for the current year.

Hedge Funds Weigh In On Seadrill

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. boosted its holdings in shares of Seadrill by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company’s stock worth $283,000 after buying an additional 325 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Seadrill by 10.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 354 shares in the last quarter. State of Wyoming lifted its holdings in shares of Seadrill by 9.8% in the 1st quarter. State of Wyoming now owns 5,162 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 462 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Seadrill in the 4th quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Seadrill by 254.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 813 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

About Seadrill

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.