Zacks Research Upgrades Seadrill (NYSE:SDRL) to "Hold"

Key Points

• Zacks Research upgraded Seadrill from a "strong sell" to a "hold" rating in a report, reflecting a more positive outlook for the company's stock.
• Currently, the consensus rating on Seadrill's stock is "Hold," with a consensus price target of $43.20 as analysts remain bullish on its potential.
• Seadrill has recently shown mixed financial performance, reporting a net margin of 5.68% and revenue exceeding analyst estimates, but a significant earnings miss per share.

Seadrill (NYSE:SDRL - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. SEB Equity Research set a $33.00 price objective on Seadrill in a report on Monday, September 1st. Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Citigroup upped their price target on Seadrill from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays started coverage on Seadrill in a report on Tuesday. They issued an "equal weight" rating and a $33.00 price objective for the company. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Seadrill in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $43.20.

Seadrill Stock Performance

Shares of Seadrill stock opened at $30.97 on Tuesday. The business has a 50-day simple moving average of $31.02 and a 200 day simple moving average of $27.11. Seadrill has a one year low of $17.74 and a one year high of $42.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 27.65 and a beta of 1.58.

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

Institutional Investors Weigh In On Seadrill

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in Seadrill in the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Seadrill by 254.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 813 shares during the last quarter. Caldwell Sutter Capital Inc. purchased a new stake in shares of Seadrill during the 1st quarter valued at about $30,000. GAMMA Investing LLC grew its holdings in Seadrill by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,237 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 942 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Seadrill by 10,733.3% in the first quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 1,288 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other 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.

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