Contrarius Group Holdings Ltd reduced its holdings in Seadrill Limited (NYSE:SDRL – Free Report) by 17.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,094 shares of the oil and gas company’s stock after selling 53,528 shares during the quarter. Contrarius Group Holdings Ltd owned 0.40% of Seadrill worth $8,549,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of SDRL. Raymond James Financial Inc. acquired a new stake in shares of Seadrill during the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill during the 2nd quarter valued at $42,000. Aquatic Capital Management LLC acquired a new stake in shares of Seadrill during the 3rd quarter valued at $44,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Seadrill during the 3rd quarter valued at $61,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Seadrill by 20.2% during the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 422 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.
Seadrill Price Performance
Shares of NYSE:SDRL opened at $44.39 on Monday. The company’s fifty day moving average is $48.24 and its two-hundred day moving average is $41.19. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22. Seadrill Limited has a 12-month low of $25.02 and a 12-month high of $55.47. The company has a market cap of $2.78 billion, a P/E ratio of -39.64 and a beta of 1.19.
Wall Street Analysts Forecast Growth
A number of research firms recently 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. Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Citigroup lifted their target price on shares of Seadrill from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Finally, Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.
Read Our Latest Analysis on Seadrill
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.
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