Corigliano Investment Advisers LLC Takes $7.81 Million Position in Seadrill Limited (NYSE:SDRL)

Corigliano Investment Advisers LLC bought a new position in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 200,631 shares of the oil and gas company's stock, valued at approximately $7,811,000. Seadrill comprises about 3.7% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 11th largest holding. Corigliano Investment Advisers LLC owned 0.27% of Seadrill as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SDRL. Crestline Management LP purchased a new stake in shares of Seadrill in the 4th quarter valued at approximately $216,000. Centiva Capital LP lifted its stake in shares of Seadrill by 56.0% in the 4th quarter. Centiva Capital LP now owns 10,551 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 3,789 shares during the last quarter. Bridgefront Capital LLC purchased a new position in shares of Seadrill during the 4th quarter worth $483,000. Bank of America Corp DE increased its position in shares of Seadrill by 100.7% during the 4th quarter. Bank of America Corp DE now owns 399,438 shares of the oil and gas company's stock worth $15,550,000 after purchasing an additional 200,435 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Seadrill in the 4th quarter valued at about $66,400,000. Institutional investors and hedge funds own 95.67% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SDRL. BWS Financial reaffirmed a "buy" rating and set a $80.00 target price on shares of Seadrill in a research note on Monday, March 3rd. BTIG Research set a $28.00 target price on shares of Seadrill in a report on Monday. Finally, Citigroup decreased their price target on Seadrill from $46.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $55.20.

Seadrill Stock Up 0.5 %

SDRL traded up $0.12 during trading hours on Friday, hitting $23.93. 822,956 shares of the company's stock were exchanged, compared to its average volume of 963,959. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $56.46. The firm has a market cap of $1.49 billion, a P/E ratio of 4.17 and a beta of 1.48. The firm has a 50 day moving average of $22.50 and a 200 day moving average of $31.87.

Seadrill (NYSE:SDRL - Get Free Report) last released its 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 return on equity of 7.24% and a net margin of 27.79%. The firm had revenue of $289.00 million during the quarter, compared to analyst estimates of $299.50 million. 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.