239,671 Shares in Seadrill Limited $SDRL Acquired by Monaco Asset Management SAM

Key Points

• Monaco Asset Management SAM acquired 239,671 Seadrill shares worth approximately $9.1 million during the second quarter, giving it a 0.38% stake and making Seadrill its 10th-largest portfolio holding.
• Institutional ownership remains high at 95.67%, with several other funds also initiating or expanding positions in Seadrill during the first and second quarters.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $55. Seadrill also beat quarterly earnings expectations, reporting $0.47 in EPS versus a $0.29 consensus estimate.

Monaco Asset Management SAM purchased a new stake in Seadrill Limited (NYSE:SDRL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 239,671 shares of the oil and gas company's stock, valued at approximately $9,064,000. Seadrill comprises about 0.7% of Monaco Asset Management SAM's investment portfolio, making the stock its 10th largest position. Monaco Asset Management SAM owned 0.38% of Seadrill as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SDRL. Bank of New York Mellon Corp acquired a new position in shares of Seadrill in the 2nd quarter valued at $7,683,000. State of Wyoming acquired a new stake in Seadrill during the 2nd quarter worth $55,000. Dockside LLC acquired a new stake in Seadrill during the 2nd quarter worth $5,153,000. Walleye Capital LLC purchased a new position in Seadrill during the 2nd quarter worth $2,747,000. Finally, Edgestream Partners L.P. grew its position in Seadrill by 64.0% during the 1st quarter. Edgestream Partners L.P. now owns 158,279 shares of the oil and gas company's stock worth $7,202,000 after purchasing an additional 61,791 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of Seadrill from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. BWS Financial reissued a "buy" rating and set a $80.00 price target on shares of Seadrill in a report on Tuesday, August 11th. Fearnley Fonds upgraded Seadrill from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Barclays raised Seadrill from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $41.00 to $59.00 in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Seadrill in a research report on Tuesday, June 30th. Three 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.00.

Seadrill Stock Performance

NYSE:SDRL opened at $47.89 on Monday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Seadrill Limited has a fifty-two week low of $28.10 and a fifty-two week high of $55.47. The stock has a market cap of $3.00 billion, a PE ratio of 1,596.43 and a beta of 1.21. The firm's fifty day simple moving average is $42.13 and its 200-day simple moving average is $44.35.

Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.29 by $0.18. The firm had revenue of $430.00 million during the quarter, compared to analysts' expectations of $388.46 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. Analysts expect that Seadrill Limited will post 0.37 earnings per share for the current fiscal year.

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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