Bank of New York Mellon Corp bought a new position in Seadrill Limited (NYSE:SDRL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 203,139 shares of the oil and gas company's stock, valued at approximately $7,683,000. Bank of New York Mellon Corp owned approximately 0.32% of Seadrill at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Osaic Holdings Inc. grew its stake in Seadrill by 18.8% during the second quarter. Osaic Holdings Inc. now owns 3,521 shares of the oil and gas company's stock worth $92,000 after buying an additional 558 shares during the last quarter. Swiss National Bank raised its stake in shares of Seadrill by 0.5% in the first quarter. Swiss National Bank now owns 117,200 shares of the oil and gas company's stock valued at $5,333,000 after acquiring an additional 600 shares during the last quarter. Alliancebernstein L.P. raised its position in 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 last quarter. ProShare Advisors LLC increased its stake in shares of Seadrill by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,488 shares of the oil and gas company's stock valued at $397,000 after buying an additional 742 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Seadrill in the second quarter valued at about $27,000. Institutional investors own 95.67% of the company's stock.
Seadrill Stock Performance
Shares of Seadrill stock opened at $50.13 on Friday. The stock's fifty day simple moving average is $43.96 and its 200 day simple moving average is $45.15. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.14 billion, a PE ratio of 1,671.00 and a beta of 1.22. Seadrill Limited has a 12 month low of $28.10 and a 12 month high of $55.47.
Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.18. The business had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. On average, research analysts predict that Seadrill Limited will post 0.37 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on SDRL. BWS Financial reiterated a "buy" rating and issued a $80.00 price target on shares of Seadrill in a report on Tuesday, August 11th. Fearnley Fonds raised Seadrill from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Barclays upgraded shares of Seadrill from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $41.00 to $59.00 in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Seadrill in a research note on Tuesday, June 30th. Finally, Capital One Financial set a $55.00 price target on shares of Seadrill and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.40.
Read Our Latest Stock Analysis on Seadrill
About Seadrill
(
Free Report)
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.
Further Reading
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