Vetr upgraded shares of Seadrill Ltd (NYSE:SDRL) from a hold rating to a strong-buy rating in a report issued on Tuesday morning, Market Beat reports. The firm currently has $2.87 price objective on the stock.

A number of hedge funds and institutional investors have recently modified their holdings of SDRL. Russell Frank Co raised its position in shares of Seadrill by 8.7% in the fourth quarter. Russell Frank Co now owns 752,803 shares of the company’s stock valued at $2,544,000 after buying an additional 60,212 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of Seadrill during the fourth quarter valued at $1,533,000. Simplex Trading raised its position in shares of Seadrill by 4.4% in the fourth quarter. Simplex Trading now owns 429 shares of the company’s stock valued at $503,000 after buying an additional 18 shares during the last quarter. Grassi Investment Management raised its position in shares of Seadrill by 1,260.0% in the fourth quarter. Grassi Investment Management now owns 136,000 shares of the company’s stock valued at $461,000 after buying an additional 126,000 shares during the last quarter. Finally, Creative Planning raised its position in shares of Seadrill by 22.3% in the fourth quarter. Creative Planning now owns 146,283 shares of the company’s stock valued at $496,000 after buying an additional 26,702 shares during the last quarter.

Several other analysts have also weighed in on the company. Goldman Sachs upgraded Seadrill from a conviction sell rating to a sell rating in a report on Tuesday, January 12th. JPMorgan Chase & Co. assumed coverage on Seadrill in a report on Friday, January 15th. They issued an underweight rating for the company. Bank of America lowered Seadrill from a neutral rating to an underperform rating in a report on Wednesday, January 20th. Howard Weil cut their price objective on Seadrill from $10.00 to $8.00 in a report on Monday, December 14th. Finally, Canaccord Genuity restated a sell rating on shares of Seadrill in a report on Thursday, January 21st. Twelve equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $8.81.

Shares of Seadrill (NYSE:SDRL) traded down 3.72% during mid-day trading on Tuesday, hitting $2.07. The stock had a trading volume of 1,805,846 shares. The stock’s market cap is $1.02 billion. Seadrill has a one year low of $1.60 and a one year high of $15.44. The firm has a 50 day moving average of $3.08 and a 200 day moving average of $6.19.

Seadrill (NYSE:SDRL) last released its quarterly earnings results on Tuesday, November 24th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.24. The firm earned $985 million during the quarter, compared to the consensus estimate of $1.02 billion. On average, analysts forecast that Seadrill will post $1.94 earnings per share for the current year.

Seadrill Limited is an offshore drilling contractor providing offshore drilling services to the oil and gas industry. The Company’s primary business is the ownership and operation of drillships, semi-submersible rigs and jack-up rigs for operations in shallow and deep water areas, as well as benign and harsh environments. The Company has three operating segments: Floaters, Jack-ups rigs and Other. The Company’s Floaters segment includes drillships and semi-submersible rigs. The Company’s Jack-ups rigs segment includes jack-up rigs. The Company’s Other segment consists primarily of rig management services. The Company, through its subsidiaries, owns and operates its offshore drilling units and makes investments in other offshore drilling and oil services companies. Its subsidiaries include North Atlantic Drilling Ltd, Sevan Drilling ASA and Asia Offshore Drilling. It owns and operates approximately 43 offshore drilling units and has 16 offshore drilling units under construction.

12 Month Chart for NYSE:SDRL

To view Vetr’s full report, visit Vetr’s official website.

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