Seadrill Limited (NYSE:SDRL) Stock Has Consensus Price Target of $59.40 According to Analysts

Shares of Seadrill Limited (NYSE:SDRL) have earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $59.40.

SDRL has been the topic of several recent analyst reports. BWS Financial reissued a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research report on Wednesday. Weiss Ratings raised shares of Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 9th. Zacks Research cut shares of Seadrill from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Citigroup reiterated a “neutral” rating on shares of Seadrill in a research note on Monday, September 7th. Finally, Capital One Financial set a $55.00 price target on shares of Seadrill and gave the company an “overweight” rating in a report on Wednesday, July 1st.

Seadrill Stock Up 1.9%

Seadrill stock traded up $0.87 during mid-day trading on Friday, hitting $47.16. The company had a trading volume of 590,591 shares, compared to its average volume of 604,451. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is $47.11 and its two-hundred day moving average price is $45.79. Seadrill has a 12 month low of $28.10 and a 12 month high of $55.47. The company has a market capitalization of $2.95 billion, a PE ratio of 1,572.13 and a beta of 1.25.

Seadrill (NYSE:SDRL) last released its earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.18. The firm had revenue of $430.00 million for the quarter, compared to analysts’ expectations of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. As a group, sell-side analysts anticipate that Seadrill will post 0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seadrill

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SDRL. Swiss National Bank increased its holdings in shares of Seadrill by 0.5% in the 1st quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company’s stock worth $5,333,000 after purchasing an additional 600 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Seadrill by 38.2% in the third 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. Arizona State Retirement System grew its holdings in shares of Seadrill by 5.7% in the second quarter. Arizona State Retirement System now owns 17,232 shares of the oil and gas company’s stock worth $652,000 after acquiring an additional 926 shares during the period. Contravisory Investment Management Inc. increased its position in shares of Seadrill by 16.0% during the 3rd quarter. Contravisory Investment Management Inc. now owns 7,985 shares of the oil and gas company’s stock valued at $357,000 after purchasing an additional 1,103 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Seadrill during the 2nd quarter valued at about $55,000. 95.67% of the stock is owned by institutional investors.

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.