Seadrill (NYSE:SDRL) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised Seadrill’s price target from $59 to $61 and maintained an “overweight” rating, implying 42.8% upside from the reported share price of $42.72.
• Analyst views are mixed but lean positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $59.80.
• Seadrill’s latest quarter missed EPS expectations, reporting a loss of $0.49 per share versus consensus for earnings of $0.19, while revenue of $428 million topped estimates.

Seadrill (NYSE:SDRL - Get Free Report) had its price objective boosted by Barclays from $59.00 to $61.00 in a report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the oil and gas company's stock. Barclays's target price would suggest a potential upside of 42.80% from the company's current price.

Other equities research analysts also recently issued reports about the company. Citigroup restated a "neutral" rating on shares of Seadrill in a research report on Monday, September 7th. BWS Financial reiterated a "buy" rating and set a $80.00 price target on shares of Seadrill in a research report on Wednesday, October 14th. Weiss Ratings raised Seadrill from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 9th. Finally, Zacks Research downgraded Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Seadrill currently has an average rating of "Moderate Buy" and an average price target of $59.80.

Seadrill Price Performance

Shares of SDRL stock traded up $0.52 during midday trading on Monday, reaching $42.72. 88,560 shares of the company were exchanged, compared to its average volume of 781,768. The company's 50 day moving average price is $47.49 and its two-hundred day moving average price is $45.16. The company has a market cap of $2.67 billion, a P/E ratio of -146.74 and a beta of 1.17. Seadrill has a 12 month low of $28.10 and a 12 month high of $55.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.18 and a current ratio of 2.18.

Seadrill (NYSE:SDRL - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.68). Seadrill had a negative net margin of 1.13% and a positive return on equity of 1.50%. The company had revenue of $428.00 million during the quarter, compared to the consensus estimate of $382.66 million. On average, sell-side analysts expect that Seadrill will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Seadrill

Several hedge funds have recently made changes to their positions in the business. Elliott Investment Management L.P. grew its holdings in shares of Seadrill by 3.5% during the first 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. BlackRock Inc. acquired a new position in Seadrill during the second quarter valued at $207,509,000. Dimensional Fund Advisors LP lifted its stake in Seadrill by 10.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company's stock worth $161,671,000 after acquiring an additional 326,835 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its stake 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 acquiring an additional 529,884 shares in the last quarter. Finally, Patient Capital Management LLC purchased a new stake in Seadrill in the 2nd quarter worth about $73,876,000. Institutional investors and hedge funds own 95.67% of the company's stock.

About Seadrill

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