BTIG Research Forecasts Strong Price Appreciation for Seadrill (NYSE:SDRL) Stock

Seadrill (NYSE:SDRL) had its target price increased by investment analysts at BTIG Research from $33.00 to $40.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the oil and gas company’s stock. BTIG Research’s price target would suggest a potential upside of 12.77% from the company’s previous close.

A number of other brokerages have also issued reports on SDRL. Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Citigroup lowered shares of Seadrill from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $35.00 in a research report on Thursday, December 11th. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Wednesday, December 17th. Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Barclays reduced their target price on shares of Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

Seadrill Price Performance

NYSE SDRL opened at $35.47 on Friday. Seadrill has a twelve month low of $17.74 and a twelve month high of $39.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a market capitalization of $2.21 billion, a PE ratio of 77.11 and a beta of 1.54. The stock has a 50-day simple moving average of $31.80 and a 200 day simple moving average of $30.87.

Seadrill (NYSE:SDRL) last released its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.43). The business had revenue of $363.00 million during the quarter, compared to analyst estimates of $343.56 million. Seadrill had a net margin of 2.49% and a return on equity of 0.10%. Research analysts anticipate that Seadrill will post 1.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Schf GPE LLC bought a new position in Seadrill during the second quarter worth about $60,132,000. Patient Capital Management LLC raised its holdings in shares of Seadrill by 13.0% in the 2nd quarter. Patient Capital Management LLC now owns 2,229,549 shares of the oil and gas company’s stock worth $58,526,000 after buying an additional 256,836 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Seadrill by 0.7% during the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 1,695,114 shares of the oil and gas company’s stock worth $51,209,000 after buying an additional 11,113 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Seadrill by 0.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,681,094 shares of the oil and gas company’s stock worth $50,786,000 after buying an additional 13,481 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Seadrill by 77.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock valued at $37,256,000 after buying an additional 617,521 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

About Seadrill

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.