Seadrill Limited (NYSE:SDRL) Receives Consensus Rating of “Buy” from Brokerages

Seadrill Limited (NYSE:SDRL) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $59.40.

Several research analysts have recently weighed in on the company. Capital One Financial set a $55.00 price objective on Seadrill and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Citigroup reiterated a “neutral” rating on shares of Seadrill in a report on Monday, September 7th. Zacks Research upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. BWS Financial reiterated a “buy” rating and set a $80.00 price target on shares of Seadrill in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th.

Hedge Funds Weigh In On Seadrill

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDRL. Tairen Capital Ltd bought a new position in Seadrill in the 2nd quarter worth approximately $2,330,000. Dimensional Fund Advisors LP raised its holdings in Seadrill by 10.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company’s stock valued at $161,671,000 after acquiring an additional 326,835 shares during the period. Foresight Global Investors Inc. bought a new stake in Seadrill during the 2nd quarter valued at $3,574,000. Elliott Investment Management L.P. lifted its position in shares of Seadrill by 3.5% during the first quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company’s stock worth $214,718,000 after acquiring an additional 160,327 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Seadrill by 91.9% during the first quarter. Quantinno Capital Management LP now owns 71,916 shares of the oil and gas company’s stock worth $3,272,000 after acquiring an additional 34,436 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Seadrill Price Performance

Shares of NYSE SDRL opened at $46.75 on Tuesday. Seadrill has a twelve month low of $28.10 and a twelve month high of $55.47. The firm has a fifty day simple moving average of $46.04 and a 200 day simple moving average of $45.52. The company has a market capitalization of $2.92 billion, a PE ratio of 1,558.33 and a beta of 1.22. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

Seadrill (NYSE:SDRL) last released its earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. The business had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. On average, sell-side analysts forecast that Seadrill will post 0.47 EPS for the current year.

About Seadrill

Seadrill Limited is an offshore drilling contractor that provides drilling services to international oil and gas companies. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, for exploration, development and production projects in deepwater and harsh-environment locations.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill’s activities have historically covered major offshore energy regions such as the North Sea, the Gulf of Mexico, Brazil and other markets in the Atlantic and international offshore basins.

Founded in 2005 and headquartered in Hamilton, Bermuda, Seadrill has expanded through fleet investments and industry transactions.