Seadrill (NYSE:SDRL) Earns Equal Weight Rating from Analysts at Barclays

Key Points

• Barclays has initiated coverage on Seadrill (NYSE:SDRL) with an "equal weight" rating and a price target of $33.00, indicating a potential upside of 2.58% from the current stock price.
• Seadrill has garnered mixed ratings from analysts, with two recommending a "buy," three a "hold," and one a "sell," resulting in an average target price of $42.80.
• The company's recent earnings report showed a loss of ($0.68) EPS for the quarter, negatively impacting its stock performance despite reporting revenue above consensus estimates.

Barclays started coverage on shares of Seadrill (NYSE:SDRL - Get Free Report) in a research note issued on Tuesday,Benzinga reports. The brokerage set an "equal weight" rating and a $33.00 price target on the oil and gas company's stock. Barclays's price objective indicates a potential upside of 2.58% from the stock's current price.

Several other research analysts have also recently issued reports on SDRL. SEB Equity Research set a $33.00 target price on shares of Seadrill in a report on Monday, September 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Seadrill in a report on Saturday, September 27th. Citigroup upped their target price on shares of Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Fearnley Fonds cut shares of Seadrill from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, Zacks Research upgraded Seadrill to a "strong sell" rating in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $42.80.

Seadrill Stock Performance

Shares of SDRL opened at $32.17 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.00 billion, a P/E ratio of 28.72 and a beta of 1.58. The business's 50 day moving average price is $30.97 and its 200-day moving average price is $27.02. Seadrill has a 52 week low of $17.74 and a 52 week high of $42.36.

Seadrill (NYSE:SDRL - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) EPS for the quarter, missing the consensus estimate of $0.68 by ($1.36). Seadrill had a return on equity of 1.58% and a net margin of 5.68%.The company had revenue of $377.00 million during the quarter, compared to the consensus estimate of $365.73 million. Equities research analysts anticipate that Seadrill will post 1.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of Seadrill by 22.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,200,535 shares of the oil and gas company's stock valued at $105,013,000 after purchasing an additional 771,366 shares in the last quarter. Schf GPE LLC purchased a new position in Seadrill in the second quarter worth about $60,132,000. Patient Capital Management LLC increased its stake in Seadrill by 13.0% during the second quarter. Patient Capital Management LLC now owns 2,229,549 shares of the oil and gas company's stock worth $58,526,000 after acquiring an additional 256,836 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Seadrill by 77.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company's stock valued at $37,256,000 after purchasing an additional 617,521 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its stake in Seadrill by 151.9% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,200,201 shares of the oil and gas company's stock worth $30,149,000 after buying an additional 723,827 shares during the period. Institutional investors own 95.67% of the company's stock.

Seadrill Company Profile

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.

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