Adage Capital Partners GP L.L.C. Purchases 320,392 Shares of Seadrill Limited (NYSE:SDRL)

Adage Capital Partners GP L.L.C. raised its holdings in Seadrill Limited (NYSE:SDRL - Free Report) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,429,169 shares of the oil and gas company's stock after buying an additional 320,392 shares during the period. Adage Capital Partners GP L.L.C. owned about 4.65% of Seadrill worth $133,498,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SDRL. JPMorgan Chase & Co. boosted its stake in Seadrill by 134.8% in the 4th quarter. JPMorgan Chase & Co. now owns 206,738 shares of the oil and gas company's stock valued at $8,048,000 after purchasing an additional 118,699 shares during the period. Vanguard Group Inc. increased its stake in Seadrill by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 540,864 shares of the oil and gas company's stock valued at $21,056,000 after acquiring an additional 16,230 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Seadrill during the 4th quarter worth $4,458,000. Bridgewater Associates LP boosted its position in Seadrill by 125.7% in the fourth quarter. Bridgewater Associates LP now owns 163,024 shares of the oil and gas company's stock valued at $6,347,000 after buying an additional 90,795 shares in the last quarter. Finally, LPL Financial LLC raised its position in Seadrill by 409.8% in the fourth quarter. LPL Financial LLC now owns 57,543 shares of the oil and gas company's stock valued at $2,240,000 after purchasing an additional 46,255 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BWS Financial reissued a "buy" rating and set a $80.00 target price on shares of Seadrill in a research report on Monday, March 3rd. Citigroup cut their price objective on shares of Seadrill from $46.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $62.00.

Seadrill Trading Down 1.8 %

NYSE SDRL traded down $0.37 on Monday, hitting $20.26. The company's stock had a trading volume of 219,890 shares, compared to its average volume of 950,952. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. The company's 50-day simple moving average is $23.53 and its 200 day simple moving average is $32.79. The firm has a market cap of $1.26 billion, a P/E ratio of 3.53 and a beta of 1.41. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $56.46.

Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $1.41. Seadrill had a net margin of 27.79% and a return on equity of 7.24%. The company had revenue of $289.00 million during the quarter, compared to analysts' expectations of $299.50 million. Research analysts predict that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Seadrill Company Profile

Seadrill Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through the following segments: Floaters, Jack-up rigs, and Other. The Floaters segment encompasses drilling, completion, and maintenance of offshore exploration and production wells. the Jack-up Rigs segment includes drilling contracts relate to jack-up rigs for operations in harsh and benign environments in shallow water.