Seadrill (NYSE:SDRL) Receives "Buy" Rating from Citigroup

Citigroup reaffirmed their buy rating on shares of Seadrill (NYSE:SDRL - Free Report) in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has a $36.00 price target on the oil and gas company's stock, up from their prior price target of $35.00.

Several other research firms have also commented on SDRL. BTIG Research set a $28.00 target price on Seadrill in a report on Monday, May 5th. BWS Financial reissued a "buy" rating and issued a $80.00 target price on shares of Seadrill in a report on Tuesday, May 13th.

Seadrill Stock Down 1.5%

Shares of Seadrill stock traded down $0.44 during trading hours on Wednesday, reaching $28.03. 6,830,170 shares of the company were exchanged, compared to its average volume of 1,020,308. Seadrill has a 1 year low of $17.74 and a 1 year high of $56.46. The stock's fifty day moving average is $23.80 and its 200 day moving average is $28.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market cap of $1.74 billion, a PE ratio of 5.30 and a beta of 1.55.

Seadrill (NYSE:SDRL - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.48). Seadrill had a return on equity of 4.68% and a net margin of 27.49%. The company had revenue of $335.00 million for the quarter, compared to analysts' expectations of $325.69 million. As a group, equities research analysts forecast that Seadrill will post 1.86 earnings per share for the current year.

Hedge Funds Weigh In On Seadrill

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Seadrill during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Seadrill by 254.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company's stock worth $28,000 after buying an additional 813 shares during the last quarter. Caldwell Sutter Capital Inc. purchased a new position in shares of Seadrill during the first quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in shares of Seadrill by 10,733.3% during the first quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock worth $33,000 after buying an additional 1,288 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Seadrill by 412.2% during the first quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock worth $34,000 after buying an additional 1,084 shares during the last quarter. Hedge funds and other 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.