Empowered Funds LLC Buys Shares of 240,268 Seadrill Limited $SDRL

Key Points

• Empowered Funds LLC purchased 240,268 shares of Seadrill Limited, worth approximately $6,007,000, during the first quarter, representing a 0.39% ownership in the company as per their SEC filing.
• Multiple large investors, including Adage Capital Partners and Mountain Lake Investment Management, have increased their stakes in Seadrill, indicating strong interest from institutional investors.
• Wall Street analysts have mixed opinions on Seadrill, with target prices ranging from $33.00 to $40.00 and an overall average rating of "Hold."

Empowered Funds LLC acquired a new position in Seadrill Limited (NYSE:SDRL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 240,268 shares of the oil and gas company's stock, valued at approximately $6,007,000. Empowered Funds LLC owned 0.39% of Seadrill at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SDRL. State of Wyoming boosted its holdings in Seadrill by 9.8% in the 1st quarter. State of Wyoming now owns 5,162 shares of the oil and gas company's stock valued at $129,000 after purchasing an additional 462 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Seadrill by 254.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company's stock valued at $28,000 after buying an additional 813 shares in the last quarter. CWM LLC raised its position in Seadrill by 30.8% in the 1st quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock worth $90,000 after purchasing an additional 845 shares during the period. Principal Financial Group Inc. raised its position in Seadrill by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 47,666 shares of the oil and gas company's stock worth $1,192,000 after purchasing an additional 863 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Seadrill by 7.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,241 shares of the oil and gas company's stock worth $356,000 after purchasing an additional 973 shares during the period. 95.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SDRL shares. Zacks Research upgraded shares of Seadrill to a "strong sell" rating in a research report on Tuesday, August 12th. SEB Equity Research set a $33.00 price objective on shares of Seadrill in a research report on Monday, September 1st. Fearnley Fonds cut shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Citigroup boosted their price objective on shares of Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.25.

Seadrill Stock Down 0.1%

Shares of NYSE:SDRL traded down $0.03 during trading on Wednesday, hitting $34.00. 64,312 shares of the company's stock traded hands, compared to its average volume of 984,176. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $42.41. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 30.32 and a beta of 1.62. The company has a 50-day moving average price of $30.41 and a 200-day moving average price of $26.30.

Seadrill (NYSE:SDRL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($1.36). Seadrill had a return on equity of 1.58% and a net margin of 5.68%.The firm had revenue of $377.00 million for the quarter, compared to the consensus estimate of $365.73 million. As a group, research analysts forecast that Seadrill Limited will post 1.86 EPS for the current fiscal year.

About Seadrill

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.