Systematic Financial Management LP cut its holdings in Seadrill Limited (NYSE:SDRL – Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 432,043 shares of the oil and gas company’s stock after selling 21,480 shares during the period. Systematic Financial Management LP owned about 0.69% of Seadrill worth $14,949,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SDRL. Russell Investments Group Ltd. raised its holdings in shares of Seadrill by 23.1% in the second quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company’s stock valued at $1,012,000 after purchasing an additional 7,233 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill in the second quarter valued at $42,000. Federated Hermes Inc. grew its stake in shares of Seadrill by 394,614.3% in the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock valued at $5,802,000 after buying an additional 220,984 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Seadrill in the second quarter valued at $696,000. Finally, Sei Investments Co. bought a new position in shares of Seadrill in the second quarter valued at $375,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.
Seadrill Trading Up 0.2%
Shares of Seadrill stock opened at $51.06 on Monday. The stock has a market cap of $3.19 billion, a PE ratio of -45.59 and a beta of 1.25. The firm has a 50-day moving average of $47.56 and a 200-day moving average of $39.95. Seadrill Limited has a 52-week low of $22.30 and a 52-week high of $55.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.94 and a current ratio of 1.94.
Wall Street Analyst Weigh In
SDRL has been the subject of several analyst reports. Fearnley Fonds raised shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen raised shares of Seadrill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Citigroup raised their target price on shares of Seadrill from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.
View Our Latest Stock Report on SDRL
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.
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