Zacks Research cut shares of Seadrill (NYSE:SDRL – Free Report) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks reports.
SDRL has been the topic of several other research reports. Capital One Financial set a $55.00 price objective on Seadrill and gave the company an “overweight” rating in a research note on Wednesday, July 1st. BWS Financial reissued a “buy” rating and set a $80.00 price objective on shares of Seadrill in a report on Wednesday. Citigroup reissued a “neutral” rating on shares of Seadrill in a research report on Monday, September 7th. Finally, Weiss Ratings upgraded Seadrill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $59.40.
View Our Latest Research Report on Seadrill
Seadrill Stock Performance
Shares of SDRL stock opened at $46.29 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 1,543.10 and a beta of 1.25. Seadrill has a 52 week low of $28.10 and a 52 week high of $55.47. The firm’s 50-day simple moving average is $47.03 and its two-hundred day simple moving average is $45.78.
Seadrill (NYSE:SDRL – Get Free Report) last released its earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The firm had revenue of $430.00 million during the quarter, compared to the consensus estimate of $388.46 million. As a group, equities analysts forecast that Seadrill will post 0.98 earnings per share for the current year.
Hedge Funds Weigh In On Seadrill
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDRL. BlackRock Inc. purchased a new position in shares of Seadrill in the second quarter worth about $207,509,000. Elliott Investment Management L.P. lifted its stake in shares of Seadrill by 3.5% during the 1st quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company’s stock valued at $214,718,000 after buying an additional 160,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Seadrill by 10.1% during the 1st 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 buying an additional 326,835 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in Seadrill by 27.6% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,449,565 shares of the oil and gas company’s stock worth $111,455,000 after buying an additional 529,884 shares during the period. Finally, Patient Capital Management LLC bought a new position in Seadrill in the 2nd quarter worth approximately $73,876,000. Institutional investors own 95.67% of the company’s stock.
Seadrill Company Profile
Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, used to explore for and develop oil and natural gas resources in deepwater and other challenging marine environments.
Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s fleet is designed to serve a range of offshore projects, with operations and contract activity spanning major energy-producing regions such as the Gulf of Mexico, Brazil, the North Sea, West Africa and other international markets.
Seadrill was founded in 2005 and has expanded through fleet development, acquisitions and strategic transactions.
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