SummitTX Capital L.P. lessened its stake in shares of Seadrill Limited (NYSE:SDRL – Free Report) by 95.9% during the 1st quarter, HoldingsChannel reports. The firm owned 12,890 shares of the oil and gas company’s stock after selling 299,495 shares during the quarter. SummitTX Capital L.P.’s holdings in Seadrill were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schf GPE LLC bought a new position in shares of Seadrill in the second quarter valued at approximately $60,132,000. Elliott Investment Management L.P. boosted its holdings in shares of Seadrill by 23.1% during the 4th quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock worth $157,733,000 after buying an additional 855,012 shares during the period. Thomist Capital Management LP boosted its holdings in shares of Seadrill by 44.6% during the 4th quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company’s stock worth $63,387,000 after buying an additional 566,419 shares during the period. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Seadrill by 27.6% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,449,565 shares of the oil and gas company’s stock worth $111,455,000 after buying an additional 529,884 shares during the period. Finally, Barclays PLC grew its stake in Seadrill by 123.2% in the 4th quarter. Barclays PLC now owns 704,039 shares of the oil and gas company’s stock valued at $24,360,000 after buying an additional 388,634 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.
Seadrill Stock Up 3.6%
SDRL opened at $44.78 on Friday. The business has a 50 day moving average of $42.67 and a 200-day moving average of $43.69. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -39.99 and a beta of 1.27. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22. Seadrill Limited has a 1-year low of $27.40 and a 1-year high of $55.47.
Analyst Ratings Changes
Several brokerages recently commented on SDRL. BWS Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a report on Monday, June 29th. Capital One Financial set a $55.00 price target on shares of Seadrill and gave the company an “overweight” rating in a report on Wednesday, July 1st. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $59.00 in a research report on Thursday, May 7th. Finally, Zacks Research upgraded Seadrill from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.00.
View Our Latest Stock Analysis on SDRL
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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