Empowered Funds LLC lessened its holdings in shares of Seadrill Limited (NYSE:SDRL – Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 265,749 shares of the oil and gas company’s stock after selling 19,882 shares during the quarter. Empowered Funds LLC owned 0.42% of Seadrill worth $12,092,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Russell Investments Group Ltd. raised its position in shares of Seadrill by 23.1% in the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill during the second quarter worth approximately $42,000. Federated Hermes Inc. grew its position in shares of Seadrill by 394,614.3% during the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company’s stock worth $5,802,000 after buying an additional 220,984 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Seadrill in the second quarter worth $696,000. Finally, Sei Investments Co. bought a new stake in shares of Seadrill in the second quarter worth $375,000. 95.67% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SDRL has been the topic of a number of research analyst reports. Fearnley Fonds upgraded shares of Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th. Barclays upgraded shares of Seadrill from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. Zacks Research raised shares of Seadrill from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, BTIG Research lifted their price target on Seadrill from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.00.
Seadrill Stock Performance
Seadrill stock opened at $41.31 on Thursday. The company has a market cap of $2.58 billion, a PE ratio of -36.89 and a beta of 1.27. The company has a fifty day moving average price of $42.96 and a two-hundred day moving average price of $43.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.94 and a quick ratio of 1.94. Seadrill Limited has a 12 month low of $27.40 and a 12 month high of $55.47.
Seadrill (NYSE:SDRL – Get Free Report) last released its earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative net margin of 4.79% and a negative return on equity of 1.84%. The business had revenue of $358.00 million for the quarter, compared to the consensus estimate of $326.75 million. Research analysts expect that Seadrill Limited will post 0.37 earnings per share for the current year.
Seadrill 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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