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

by · The Markets Daily

Seadrill (NYSE:SDRL – Get Free Report) had its target price lifted by equities research analysts at Barclays from $39.00 to $41.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would indicate a potential downside of 5.84% from the company’s current price.

SDRL has been the topic of several other reports. Citigroup cut shares of Seadrill from a “neutral” rating to a “sell” rating and cut their price objective for the company from $35.00 to $32.00 in a research report on Monday, January 12th. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Zacks Research lowered Seadrill from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. BWS Financial reaffirmed a “buy” rating and set a $80.00 price target on shares of Seadrill in a research report on Friday, January 23rd. Finally, Weiss Ratings lowered shares of Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.20.

Check Out Our Latest Report on Seadrill

Seadrill Stock Down 0.8%

Shares of NYSE:SDRL traded down $0.34 during trading on Monday, hitting $43.55. 112,789 shares of the company’s stock traded hands, compared to its average volume of 986,246. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $38.05 and a 200-day moving average price of $33.56. Seadrill has a 52 week low of $17.74 and a 52 week high of $45.90. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -34.92 and a beta of 1.45.

Seadrill (NYSE:SDRL – Get Free Report) last announced its earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The firm had revenue of $362.00 million for the quarter, compared to the consensus estimate of $335.36 million. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. As a group, research analysts forecast that Seadrill will post 1.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in Seadrill during the 2nd quarter valued at $235,000. First Eagle Investment Management LLC grew its position in Seadrill by 132.9% in the second quarter. First Eagle Investment Management LLC now owns 80,613 shares of the oil and gas company’s stock worth $2,116,000 after acquiring an additional 46,000 shares in the last quarter. Monaco Asset Management SAM increased its stake in Seadrill by 7.5% in the second quarter. Monaco Asset Management SAM now owns 215,000 shares of the oil and gas company’s stock valued at $5,644,000 after acquiring an additional 15,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in Seadrill by 77.0% during the second quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock worth $37,256,000 after purchasing an additional 617,521 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Seadrill by 302.9% in the 2nd quarter. Creative Planning now owns 114,482 shares of the oil and gas company’s stock worth $3,005,000 after purchasing an additional 86,069 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

About Seadrill

(Get Free Report)

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.

Recommended Stories