Seadrill (NYSE:SDRL) Given New $36.00 Price Target at Citigroup

Seadrill (NYSE:SDRL - Get Free Report) had its target price upped by Citigroup from $35.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the oil and gas company's stock. Citigroup's price target indicates a potential upside of 24.82% from the stock's current price.

Other research analysts have also issued reports about the company. BTIG Research set a $28.00 target price on Seadrill in a research report on Monday, May 5th. BWS Financial reissued a "buy" rating and set a $80.00 target price on shares of Seadrill in a research note on Tuesday, May 13th.

Seadrill Stock Up 1.0%

SDRL stock opened at $28.84 on Wednesday. The firm has a 50-day moving average price of $23.29 and a 200-day moving average price of $29.07. Seadrill has a 12 month low of $17.74 and a 12 month high of $56.46. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.79 billion, a P/E ratio of 5.44 and a beta of 1.55.

Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $325.69 million. As a group, equities research analysts anticipate that Seadrill will post 1.86 EPS for the current fiscal year.

Institutional Trading of Seadrill

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Seadrill in the fourth quarter valued at about $66,400,000. Third Point LLC purchased a new position in Seadrill in the fourth quarter valued at approximately $39,903,000. Norges Bank purchased a new position in Seadrill in the fourth quarter valued at approximately $33,104,000. Adage Capital Partners GP L.L.C. grew its holdings in Seadrill by 22.5% during 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 during the period. Finally, Goehring & Rozencwajg Associates LLC increased its position in Seadrill by 151.9% in 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 last quarter. 95.67% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.