Seadrill (NYSE:SDRL) Stock Price Expected to Rise, BTIG Research Analyst Says

Seadrill (NYSE:SDRL) had its price objective upped by analysts at BTIG Research from $33.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. BTIG Research’s price objective suggests a potential upside of 14.22% from the stock’s previous close.

SDRL has been the subject of several other research reports. Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Dnb Carnegie raised Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings lowered Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Barclays cut their price target on Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Finally, BWS Financial restated a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Seadrill Stock Up 3.0%

Shares of NYSE:SDRL opened at $35.02 on Friday. Seadrill has a 1 year low of $17.74 and a 1 year high of $39.27. The company has a market capitalization of $2.18 billion, a PE ratio of 76.13 and a beta of 1.54. The business has a fifty day moving average price of $31.72 and a two-hundred day moving average price of $30.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.89 and a quick ratio of 1.89.

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

Institutional Investors Weigh In On Seadrill

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC bought a new position in shares of Seadrill in the third quarter valued at approximately $61,000. CIBC Bancorp USA Inc. purchased a new stake in Seadrill in the 3rd quarter worth approximately $202,000. Sig Brokerage LP boosted its holdings in Seadrill by 44.5% in the 3rd quarter. Sig Brokerage LP now owns 29,414 shares of the oil and gas company’s stock valued at $889,000 after purchasing an additional 9,056 shares during the period. SIR Capital Management L.P. boosted its holdings in Seadrill by 804.1% in the 3rd quarter. SIR Capital Management L.P. now owns 377,647 shares of the oil and gas company’s stock valued at $11,409,000 after purchasing an additional 335,877 shares during the period. Finally, Parallax Volatility Advisers L.P. grew its position in shares of Seadrill by 30.1% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 117,101 shares of the oil and gas company’s stock valued at $3,538,000 after purchasing an additional 27,110 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

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.