Man Group plc purchased a new stake in Seadrill Limited (NYSE:SDRL – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 386,929 shares of the oil and gas company’s stock, valued at approximately $14,634,000. Man Group plc owned 0.62% of Seadrill as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Seadrill by 23.1% in the second 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 during the period. EverSource Wealth Advisors LLC purchased a new position in Seadrill in the 2nd quarter valued at $42,000. Federated Hermes Inc. raised its position in Seadrill by 394,614.3% during the 2nd 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 during the last quarter. Cerity Partners LLC purchased a new position in Seadrill during the 2nd quarter worth $696,000. Finally, Sei Investments Co. acquired a new stake in shares of Seadrill in the 2nd quarter worth $375,000. 95.67% of the stock is owned by institutional investors and hedge funds.
Seadrill Price Performance
Shares of NYSE:SDRL opened at $48.50 on Friday. The business’s 50 day simple moving average is $42.92 and its 200-day simple moving average is $44.89. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 1,616.73 and a beta of 1.21. 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 12 month low of $28.10 and a 12 month high of $55.47.
Analysts Set New Price Targets
SDRL has been the subject of several analyst reports. 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. Barclays upgraded Seadrill from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $59.00 in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Seadrill in a research note on Tuesday, June 30th. BWS Financial restated a “buy” rating and issued a $80.00 price target on shares of Seadrill in a research note on Tuesday, August 11th. Finally, Fearnley Fonds raised Seadrill from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.
View Our Latest Stock Report on SDRL
Seadrill Company 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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