Edgestream Partners L.P. increased its stake in shares of Seadrill Limited (NYSE:SDRL – Free Report) by 64.0% during the 1st quarter, Holdings Channel reports. The fund owned 158,279 shares of the oil and gas company’s stock after purchasing an additional 61,791 shares during the quarter. Edgestream Partners L.P.’s holdings in Seadrill were worth $7,202,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Seadrill by 20.2% in the fourth 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 period. Osaic Holdings Inc. grew its stake in shares of Seadrill by 18.8% during the 2nd quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company’s stock worth $92,000 after purchasing an additional 558 shares during the period. Swiss National Bank increased its holdings in shares of Seadrill by 0.5% during the 1st quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company’s stock valued at $5,333,000 after purchasing an additional 600 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Seadrill by 1.0% in the 3rd quarter. Alliancebernstein L.P. now owns 72,020 shares of the oil and gas company’s stock valued at $2,176,000 after purchasing an additional 700 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Seadrill by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,556 shares of the oil and gas company’s stock worth $642,000 after buying an additional 716 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on SDRL shares. Capital One Financial set a $55.00 price objective on shares of Seadrill and gave the company an “overweight” rating in a report on Wednesday, July 1st. Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $59.00 in a research report on Thursday, May 7th. Fearnley Fonds upgraded Seadrill from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Zacks Research raised Seadrill from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Seadrill currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.
Seadrill Stock Up 4.8%
SDRL stock opened at $43.31 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $42.80 and a two-hundred day moving average of $43.68. Seadrill Limited has a 12 month low of $27.40 and a 12 month high of $55.47. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -38.67 and a beta of 1.27.
Seadrill (NYSE:SDRL – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $358.00 million during the quarter, compared to analysts’ expectations of $326.75 million. As a group, analysts forecast 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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