Seadrill Gets Price Target Boost as Offshore Momentum Builds

Seadrill Limited (NYSE:SDRL) is one of the best oil drilling stocks according to hedge funds. On July 15, BTIG upgraded the stock, raising its price target from $28 to $33 while maintaining a Buy rating. That’s a solid ~18% upside from current levels, based on offshore utilization trends and rig quality.

The timing of this call aligns with Seadrill’s Q1 earnings, which showed $430 million in cash, 84% fleet utilization, and a robust $2.8 billion contract backlog extending through 2028. These are the hallmarks hedge funds love in offshore drillers: strong contract visibility, steady cash flow, and asset quality insulated from temporary demand softness.

Seadrill Gets Price Target Boost as Offshore Momentum Builds

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Seadrill Limited (NYSE:SDRL) owns a modern fleet of deepwater and jackup rigs, delivering precision offshore drilling worldwide. With a fortified balance sheet, expanding backlog, and analysts now raising expectations, SDRL checks every box for hedge funds hunting leverage in the next offshore upswing.

While we acknowledge the potential of SDRL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SDRL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.