Empowered Funds LLC Purchases 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 bought a new stake in Seadrill Limited (NYSE:SDRL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mountain Lake Investment Management LLC boosted its position in Seadrill by 27.8% during the 1st quarter. Mountain Lake Investment Management LLC now owns 197,639 shares of the oil and gas company's stock valued at $4,941,000 after purchasing an additional 42,939 shares during the period. Bridgeway Capital Management LLC bought a new stake in Seadrill in the first quarter valued at $10,390,000. AQR Capital Management LLC lifted its stake in Seadrill by 333.6% in the first quarter. AQR Capital Management LLC now owns 219,678 shares of the oil and gas company's stock valued at $5,492,000 after buying an additional 169,014 shares during the last quarter. 683 Capital Management LLC acquired a new position in shares of Seadrill during the first quarter valued at $1,500,000. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Seadrill by 22.5% during the first quarter. Adage Capital Partners GP L.L.C. now owns 4,200,535 shares of the oil and gas company's stock worth $105,013,000 after acquiring an additional 771,366 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Seadrill Price Performance

Shares of SDRL stock traded up $0.23 during midday trading on Monday, reaching $33.01. 1,094,266 shares of the company were exchanged, compared to its average volume of 990,968. The company's 50 day moving average price is $30.26 and its two-hundred day moving average price is $26.21. The company has a market cap of $2.05 billion, a P/E ratio of 29.47 and a beta of 1.62. Seadrill Limited has a 12 month low of $17.74 and a 12 month high of $42.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.87 and a current ratio of 1.87.

Seadrill (NYSE:SDRL - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share 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 during the quarter, compared to analyst estimates of $365.73 million. On average, sell-side analysts expect that Seadrill Limited will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SDRL has been the topic of several recent research reports. Zacks Research upgraded shares of Seadrill to a "strong sell" rating in a research report on Tuesday, August 12th. Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. SEB Equity Research set a $33.00 price objective on Seadrill in a research report on Monday, September 1st. Finally, Citigroup increased their price objective on Seadrill from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Seadrill has an average rating of "Hold" and an average price target of $45.25.

Seadrill 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.