Seadrill (NYSE:SDRL – Get Free Report) was upgraded by Fearnley Fonds from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.
Several other analysts have also issued reports on the stock. Citigroup upped their price target on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. Barclays upgraded shares of Seadrill from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $59.00 in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.
Read Our Latest Report on Seadrill
Seadrill Stock Performance
Seadrill (NYSE:SDRL – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. The business had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $326.75 million. On average, equities analysts forecast that Seadrill will post 0.76 EPS for the current year.
Institutional Trading of Seadrill
Several institutional investors and hedge funds have recently bought and sold shares of SDRL. Raymond James Financial Inc. purchased a new stake in Seadrill in the second quarter worth about $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill during the second quarter valued at approximately $42,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill during the third quarter valued at approximately $44,000. CIBC Private Wealth Group LLC bought a new position in shares of Seadrill during the third quarter valued at approximately $61,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Seadrill during the third quarter valued at approximately $68,000. 95.67% of the stock is currently owned by hedge funds and other 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.
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