Seadrill Limited (NYSE:SDRL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Seadrill Limited (NYSE:SDRL) have been given an average rating of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and three have given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $55.00.

A number of research firms recently weighed in on SDRL. Fearnley Fonds raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $59.00 in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research note on Tuesday, June 30th. Capital One Financial set a $55.00 price target on Seadrill and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Finally, BWS Financial reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Seadrill in a research note on Tuesday, August 11th.

Seadrill Stock Up 4.1%

Shares of SDRL opened at $48.50 on Friday. The company’s 50-day moving average price is $42.92 and its 200 day moving average price is $44.89. Seadrill has a 12-month low of $28.10 and a 12-month high of $55.47. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.03 billion, a P/E ratio of 1,616.73 and a beta of 1.21.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.18. The business had revenue of $430.00 million during the quarter, compared to analysts’ expectations 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 0.37 earnings per share for the current year.

Hedge Funds Weigh In On Seadrill

A number of hedge funds and other institutional investors have recently bought and sold shares of SDRL. Russell Investments Group Ltd. increased its stake in Seadrill by 23.1% during the second quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock worth $1,012,000 after purchasing an additional 7,233 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Seadrill in the second quarter valued at approximately $42,000. Federated Hermes Inc. grew its holdings in shares of Seadrill by 394,614.3% in the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock valued at $5,802,000 after purchasing an additional 220,984 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Seadrill in the second quarter valued at approximately $696,000. Finally, Sei Investments Co. purchased a new stake in Seadrill during the 2nd quarter worth approximately $375,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Seadrill Company Profile

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.