Seadrill (NYSE:SDRL) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Seadrill (NYSE:SDRL) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on SDRL. Weiss Ratings reiterated a “sell (d+)” rating on shares of Seadrill in a research report on Thursday, April 2nd. Wall Street Zen upgraded Seadrill from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Citigroup increased their price target on Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. BTIG Research increased their price target on Seadrill from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Barclays increased their price target on Seadrill from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.40.

Seadrill Stock Performance

NYSE SDRL traded down $0.30 during trading hours on Tuesday, hitting $49.56. The company had a trading volume of 80,859 shares, compared to its average volume of 857,095. Seadrill has a fifty-two week low of $20.45 and a fifty-two week high of $50.24. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $45.39 and a 200-day simple moving average of $37.77. The firm has a market cap of $3.09 billion, a P/E ratio of -39.99 and a beta of 1.31.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%.The company had revenue of $362.00 million during the quarter, compared to analysts’ expectations of $335.36 million. Equities analysts predict that Seadrill will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd raised its stake in shares of Seadrill by 52.7% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 32,723 shares of the oil and gas company’s stock valued at $1,489,000 after acquiring an additional 11,296 shares in the last quarter. Strs Ohio acquired a new stake in shares of Seadrill during the 1st quarter worth approximately $228,000. Contravisory Investment Management Inc. bought a new position in shares of Seadrill during the 1st quarter worth approximately $313,000. SG Americas Securities LLC lifted its position in shares of Seadrill by 725.7% during the 1st quarter. SG Americas Securities LLC now owns 101,474 shares of the oil and gas company’s stock worth $4,617,000 after buying an additional 89,185 shares during the period. Finally, Azarias Capital Management L.P. bought a new position in shares of Seadrill during the 1st quarter worth approximately $6,217,000. 95.67% of the stock is owned by institutional investors.

About Seadrill

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.