Brokerages Set Seadrill Limited (NYSE:SDRL) Price Target at $55.00

Seadrill Limited (NYSE:SDRL) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $55.00.

A number of equities research analysts have recently issued reports on SDRL shares. BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Monday, June 29th. Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. BTIG Research lifted their price target on Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. Finally, Capital One Financial set a $55.00 price objective on Seadrill and gave the company an “overweight” rating in a report on Wednesday, July 1st.

Institutional Investors Weigh In On Seadrill

A number of institutional investors have recently modified their holdings of SDRL. Russell Investments Group Ltd. increased its position in Seadrill by 23.1% during the second quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock worth $1,012,000 after acquiring an additional 7,233 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Seadrill in the 2nd quarter valued at about $42,000. Federated Hermes Inc. grew its position in shares of Seadrill by 394,614.3% during the 2nd quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock worth $5,802,000 after purchasing an additional 220,984 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Seadrill during the 2nd quarter worth approximately $696,000. Finally, Sei Investments Co. acquired a new position in shares of Seadrill during the 2nd quarter worth approximately $375,000. Institutional investors own 95.67% of the company’s stock.

Seadrill Stock Performance

NYSE SDRL opened at $43.01 on Thursday. The stock has a market cap of $2.69 billion, a PE ratio of -38.41 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a 50-day moving average of $44.57 and a 200-day moving average of $43.00. Seadrill has a 52-week low of $27.40 and a 52-week high of $55.47.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $358.00 million during the quarter, compared to analyst estimates of $326.75 million. Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. On average, sell-side analysts anticipate that Seadrill will post 0.37 EPS for the current year.

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.