Seadrill (NYSE:SDRL) Rating Lowered to “Strong Sell” at Zacks Research

Seadrill (NYSE:SDRL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

SDRL has been the topic of several other reports. BWS Financial reissued a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research report on Friday, January 23rd. Citigroup downgraded shares of Seadrill from a “neutral” rating to a “sell” rating and reduced their price target for the company from $35.00 to $32.00 in a research report on Monday, January 12th. BTIG Research upped their price objective on Seadrill from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Barclays lifted their target price on Seadrill from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Finally, Dnb Carnegie raised Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Seadrill presently has an average rating of “Hold” and an average target price of $43.60.

Seadrill Stock Performance

Seadrill stock opened at $42.48 on Monday. Seadrill has a twelve month low of $17.74 and a twelve month high of $43.30. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.65 billion, a P/E ratio of 92.35 and a beta of 1.54. The stock’s 50 day moving average is $36.02 and its 200 day moving average is $32.69.

Hedge Funds Weigh In On Seadrill

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Seadrill by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 3,807,933 shares of the oil and gas company’s stock worth $131,754,000 after purchasing an additional 23,672 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Seadrill by 12.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,484,940 shares of the oil and gas company’s stock valued at $120,579,000 after buying an additional 373,176 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Seadrill by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,226,446 shares of the oil and gas company’s stock worth $111,635,000 after buying an additional 34,511 shares in the last quarter. Schf GPE LLC bought a new position in shares of Seadrill during the second quarter worth $60,132,000. Finally, Patient Capital Management LLC grew its stake in Seadrill by 13.0% during the second quarter. Patient Capital Management LLC now owns 2,229,549 shares of the oil and gas company’s stock valued at $58,526,000 after acquiring an additional 256,836 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

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.