Seadrill (NYSE:SDRL) Price Target Cut to $32.00 by Analysts at Barclays

Seadrill (NYSE:SDRL) had its target price decreased by research analysts at Barclays from $33.00 to $32.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target suggests a potential upside of 13.37% from the company’s current price.

Several other analysts have also recently weighed in on SDRL. Fearnley Fonds cut shares of Seadrill from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Dnb Carnegie upgraded Seadrill to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Seadrill in a research report on Wednesday, October 8th. Citigroup boosted their price objective on Seadrill from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.00.

Seadrill Price Performance

Shares of SDRL traded down $0.27 during mid-day trading on Monday, reaching $28.23. The company had a trading volume of 274,693 shares, compared to its average volume of 959,468. 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 company has a market capitalization of $1.76 billion, a P/E ratio of 25.26 and a beta of 1.59. Seadrill has a twelve month low of $17.74 and a twelve month high of $42.24. The company’s 50-day moving average is $31.38 and its 200-day moving average is $28.57.

Seadrill (NYSE:SDRL) last announced its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.43). Seadrill had a net margin of 5.68% and a return on equity of 1.58%. The company had revenue of $363.00 million during the quarter, compared to analyst estimates of $343.56 million. Seadrill has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Seadrill will post 1.86 EPS for the current year.

Institutional Trading of Seadrill

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Seadrill in the second quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Seadrill by 254.1% in the first 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 buying an additional 813 shares during the period. GAMMA Investing LLC increased its position in shares of Seadrill by 319.3% during the second quarter. GAMMA Investing LLC now owns 1,237 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 942 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill during the second quarter worth $42,000. Finally, Farther Finance Advisors LLC lifted its position in Seadrill by 34.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,743 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 443 shares in the last quarter. 95.67% of the stock is owned by institutional investors.

About Seadrill

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.