Empowered Funds LLC bought a new position in Seadrill Limited (NYSE:SDRL – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 133,948 shares of the oil and gas company’s stock, valued at approximately $5,066,000.
A number of other large investors have also made changes to their positions in SDRL. BlackRock Inc. acquired a new stake in Seadrill during the 2nd quarter valued at $207,509,000. Schf GPE LLC purchased a new position in shares of Seadrill during the second quarter valued at $60,132,000. Patient Capital Management LLC purchased a new position in shares of Seadrill during the second quarter valued at $73,876,000. Webs Creek Capital Management LP acquired a new position in Seadrill during the second quarter valued at $49,368,299. Finally, Elliott Investment Management L.P. raised its position in Seadrill by 23.1% during the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company’s stock valued at $157,733,000 after buying an additional 855,012 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on SDRL shares. Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Barclays raised Seadrill from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. BWS Financial reiterated a “buy” rating and issued a $80.00 target price on shares of Seadrill in a report on Tuesday, August 11th. Capital One Financial set a $55.00 price target on shares of Seadrill and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Seadrill in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.40.
Seadrill Stock Performance
Shares of NYSE SDRL opened at $48.57 on Tuesday. The business’s 50-day moving average price is $43.28 and its two-hundred day moving average price is $44.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50. Seadrill Limited has a one year low of $28.10 and a one year high of $55.47. The company has a market capitalization of $3.04 billion, a P/E ratio of 1,619.00 and a beta of 1.21.
Seadrill (NYSE:SDRL – Get Free Report) last issued its earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.18. Seadrill had a return on equity of 0.64% and a net margin of 0.07%.The company had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. Analysts anticipate that Seadrill Limited will post 0.37 earnings per share for the current fiscal 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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