Intech Investment Management LLC Sells 7,979 Shares of Seadrill Limited $SDRL

Intech Investment Management LLC decreased its stake in shares of Seadrill Limited (NYSE:SDRL) by 21.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,627 shares of the oil and gas company’s stock after selling 7,979 shares during the quarter. Intech Investment Management LLC’s holdings in Seadrill were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its stake in Seadrill by 22.5% during the first quarter. Adage Capital Partners GP L.L.C. now owns 4,200,535 shares of the oil and gas company’s stock worth $105,013,000 after acquiring an additional 771,366 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Seadrill by 77.0% during the second quarter. Geode Capital Management LLC now owns 1,419,059 shares of the oil and gas company’s stock valued at $37,256,000 after purchasing an additional 617,521 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Seadrill by 54.5% during the 1st quarter. Neuberger Berman Group LLC now owns 715,702 shares of the oil and gas company’s stock worth $17,893,000 after purchasing an additional 252,363 shares in the last quarter. Hosking Partners LLP grew its stake in shares of Seadrill by 8.2% in the 1st quarter. Hosking Partners LLP now owns 566,610 shares of the oil and gas company’s stock valued at $14,165,000 after buying an additional 42,794 shares during the period. Finally, Systematic Financial Management LP increased its position in Seadrill by 5.1% in the 1st quarter. Systematic Financial Management LP now owns 474,400 shares of the oil and gas company’s stock valued at $11,860,000 after buying an additional 23,135 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

Wall Street Analysts Forecast Growth

SDRL has been the topic of several recent research reports. BWS Financial reiterated a “buy” rating and issued a $80.00 price target on shares of Seadrill in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Seadrill in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Seadrill from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Barclays decreased their price target on shares of Seadrill from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Finally, SEB Equity Research set a $33.00 price objective on shares of Seadrill in a report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.00.

Seadrill Stock Up 1.5%

SDRL stock opened at $30.27 on Thursday. The firm has a market capitalization of $1.89 billion, a PE ratio of 27.03 and a beta of 1.59. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21. Seadrill Limited has a twelve month low of $17.74 and a twelve month high of $41.25. The stock’s 50 day moving average is $30.70 and its 200-day moving average is $29.26.

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

Seadrill Company Profile

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.