Seadrill Limited (NYSE:SDRL) Stock Has Average Price Target of $59.80 According to Brokerages

Key Points

• Analyst consensus is “Moderate Buy” among eight brokerages, with an average 12-month price target of $59.80. Ratings comprise three holds, three buys, and two strong buys.
• Seadrill’s latest quarterly results were mixed: it reported an EPS loss of $0.49, missing the $0.19 consensus estimate, while revenue of $428 million exceeded expectations of $382.66 million.
• Institutional investors own 95.67% of Seadrill’s shares. The stock opened at $43.70, within a 12-month range of $28.55 to $55.47.

Shares of Seadrill Limited (NYSE:SDRL - Get Free Report) have received an average rating of "Moderate Buy" from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $59.80.

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 14th. Citigroup reissued a "neutral" rating on shares of Seadrill in a research note on Monday, September 7th. BWS Financial restated a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a report on Wednesday, October 14th. Weiss Ratings upgraded shares of Seadrill from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 9th. Finally, Barclays raised their target price on shares of Seadrill from $59.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday.

Institutional Investors Weigh In On Seadrill

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in shares of Seadrill by 55.2% during the third quarter. Parallel Advisors LLC now owns 737 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 262 shares in the last quarter. State of Wyoming purchased a new position in shares of Seadrill in the 2nd quarter worth about $55,000. Integrated Wealth Concepts LLC bought a new position in Seadrill in the 2nd quarter worth about $92,000. GAMMA Investing LLC boosted its stake in Seadrill by 38.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,523 shares of the oil and gas company's stock worth $113,000 after purchasing an additional 698 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Seadrill in the 1st quarter worth about $205,000. 95.67% of the stock is owned by institutional investors.

Seadrill Price Performance

Shares of SDRL stock opened at $43.70 on Wednesday. The business's fifty day moving average is $47.29 and its 200 day moving average is $45.21. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -150.69 and a beta of 1.17. Seadrill has a twelve month low of $28.55 and a twelve month high of $55.47.

Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The oil and gas company reported ($0.49) 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 firm had revenue of $428.00 million for the quarter, compared to analysts' expectations of $382.66 million. Research analysts expect that Seadrill will post 0.34 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.