Analysts Set Seadrill Limited (NYSE:SDRL) Price Target at $51.40

Seadrill Limited (NYSE:SDRL) has earned an average recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.40.

SDRL has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. BTIG Research raised their price objective on shares of Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Seadrill in a research report on Thursday, April 2nd. Barclays raised their price objective on shares of Seadrill from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, BWS Financial restated a “buy” rating and set a $80.00 price objective on shares of Seadrill in a research report on Tuesday, April 7th.

Institutional Investors Weigh In On Seadrill

Several hedge funds and other institutional investors have recently bought and sold shares of SDRL. Elliott Investment Management L.P. increased its position in shares of Seadrill by 23.1% during the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock valued at $157,733,000 after acquiring an additional 855,012 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Seadrill by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,807,933 shares of the oil and gas company’s stock valued at $131,754,000 after acquiring an additional 23,672 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Seadrill by 12.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,484,940 shares of the oil and gas company’s stock valued at $120,579,000 after acquiring an additional 373,176 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Seadrill by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,226,446 shares of the oil and gas company’s stock valued at $111,635,000 after acquiring an additional 34,511 shares during the last quarter. Finally, Schf GPE LLC acquired a new stake in shares of Seadrill during the second quarter valued at about $60,132,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Seadrill Stock Performance

NYSE:SDRL opened at $49.30 on Friday. The company’s 50-day moving average price is $45.49 and its 200-day moving average price is $37.85. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.08 billion, a P/E ratio of -39.76 and a beta of 1.25. Seadrill has a twelve month low of $22.10 and a twelve month high of $50.24.

Seadrill (NYSE:SDRL) last posted its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. Seadrill had a negative net margin of 5.36% and a negative return on equity of 2.07%. The firm had revenue of $362.00 million for the quarter, compared to the consensus estimate of $335.36 million. On average, sell-side analysts forecast that Seadrill will post 0.76 earnings per share for the current fiscal year.

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.