Barclays Increases Seadrill (NYSE:SDRL) Price Target to $33.00

Seadrill (NYSE:SDRL) had its target price hoisted by research analysts at Barclays from $32.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would indicate a potential downside of 6.08% from the company’s current price.

Several other brokerages have also issued reports on SDRL. Citigroup cut shares of Seadrill from a “neutral” rating to a “sell” rating and lowered their price target for the company from $35.00 to $32.00 in a research report on Monday. Dnb Carnegie upgraded shares of Seadrill to a “strong-buy” rating in a report on Tuesday, November 4th. BWS Financial restated a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research note on Wednesday, December 17th. BTIG Research lifted their target price on shares of Seadrill from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Finally, Weiss Ratings cut Seadrill from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Seadrill currently has a consensus rating of “Hold” and an average target price of $43.60.

Seadrill Trading Down 0.4%

NYSE SDRL traded down $0.14 on Thursday, hitting $35.14. The company’s stock had a trading volume of 152,119 shares, compared to its average volume of 807,147. The firm has a market cap of $2.19 billion, a P/E ratio of 76.48 and a beta of 1.54. Seadrill has a 52-week low of $17.74 and a 52-week high of $38.43. The company’s 50-day simple moving average is $32.01 and its 200 day simple moving average is $31.05. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL) last announced its quarterly 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). Seadrill had a return on equity of 0.10% and a net margin of 2.49%.The business had revenue of $363.00 million during the quarter, compared to analysts’ expectations of $343.56 million. Research analysts predict that Seadrill will post 1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Seadrill

A number of hedge funds have recently modified their holdings of the company. Schf GPE LLC bought a new stake in Seadrill in the second quarter worth $60,132,000. Geode Capital Management LLC increased its holdings in shares of Seadrill by 77.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock worth $37,256,000 after buying an additional 617,521 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Seadrill by 498.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 614,849 shares of the oil and gas company’s stock valued at $16,140,000 after buying an additional 512,074 shares in the last quarter. Packer & Co Ltd bought a new position in shares of Seadrill in the 3rd quarter valued at about $13,597,000. Finally, DNB Asset Management AS lifted its holdings in shares of Seadrill by 288.4% in the 2nd quarter. DNB Asset Management AS now owns 594,256 shares of the oil and gas company’s stock valued at $15,599,000 after acquiring an additional 441,266 shares during 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.