Seadrill (NYSE:SDRL) Price Target Raised to $61.00

Seadrill (NYSE:SDRL) had its target price increased by Barclays from $59.00 to $61.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other equities analysts have also commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Seadrill in a research report on Monday, September 7th. BWS Financial reaffirmed a “buy” rating and set a $80.00 price target on shares of Seadrill in a research note on Wednesday, October 14th. Zacks Research lowered Seadrill from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Finally, Weiss Ratings raised Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.80.

Seadrill Trading Up 1.5%

NYSE SDRL opened at $44.36 on Monday. The stock has a market cap of $2.73 billion, a PE ratio of 62.46 and a beta of 1.17. Seadrill has a 12 month low of $28.65 and a 12 month high of $55.47. The company’s 50-day moving average price is $47.19 and its 200-day moving average price is $45.24. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.26.

Seadrill (NYSE:SDRL) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.68). The company had revenue of $428.00 million for the quarter, compared to the consensus estimate of $382.66 million. Seadrill had a negative net margin of 1.13% and a positive return on equity of 1.50%. Equities research analysts forecast that Seadrill will post 0.34 earnings per share for the current year.

Institutional Trading of Seadrill

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tairen Capital Ltd purchased a new position in Seadrill during the 2nd quarter valued at about $2,330,000. Bank of America Corp DE purchased a new stake in shares of Seadrill in the 2nd quarter worth approximately $19,392,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Seadrill in the 2nd quarter worth approximately $911,000. Dimensional Fund Advisors LP boosted its stake in shares of Seadrill by 10.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company’s stock valued at $161,671,000 after purchasing an additional 326,835 shares in the last quarter. Finally, Foresight Global Investors Inc. bought a new position in shares of Seadrill during the second quarter valued at approximately $3,574,000. 95.67% of the stock is currently owned by institutional investors.

About Seadrill

Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies. Its work supports the exploration and development of offshore energy resources. The company operates a fleet of offshore drilling units, including drillships, semi-submersible rigs and jack-up rigs. These units are designed for operations in different water depths and offshore conditions. Founded in 2005, Seadrill serves customers in offshore markets around the world. Its business focuses on providing rig operations and related drilling services rather than producing oil and gas itself.