The Manufacturers Life Insurance Company purchased a new stake in Seadrill Limited (NYSE:SDRL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 24,096 shares of the oil and gas company's stock, valued at approximately $911,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Seadrill in the second quarter worth approximately $207,509,000. Elliott Investment Management L.P. increased its position in Seadrill by 3.5% during the 1st quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company's stock valued at $214,718,000 after purchasing an additional 160,327 shares during the period. Vanguard Group Inc. increased its position in Seadrill by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,807,933 shares of the oil and gas company's stock valued at $131,754,000 after purchasing an additional 23,672 shares during the period. Dimensional Fund Advisors LP raised its holdings in Seadrill by 10.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company's stock worth $161,671,000 after purchasing an additional 326,835 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Seadrill by 12.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,484,940 shares of the oil and gas company's stock worth $120,579,000 after purchasing an additional 373,176 shares during the period. Institutional investors and hedge funds own 95.67% of the company's stock.
Seadrill Price Performance
Shares of SDRL opened at $49.00 on Friday. The firm has a market cap of $3.06 billion, a PE ratio of 1,633.33 and a beta of 1.22. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47. The business's 50 day moving average price is $44.17 and its two-hundred day moving average price is $45.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.
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, topping the consensus estimate of $0.29 by $0.18. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The company had revenue of $430.00 million during the quarter, compared to the consensus estimate of $388.46 million. On average, equities analysts anticipate that Seadrill Limited will post 0.37 EPS for the current year.
Wall Street Analyst Weigh In
SDRL has been the subject of several recent analyst reports. BWS Financial reiterated a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research report on Tuesday, August 11th. Weiss Ratings restated a "sell (d+)" rating on shares of Seadrill in a report on Tuesday, June 30th. Fearnley Fonds raised shares of Seadrill from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Finally, Capital One Financial set a $55.00 price target on Seadrill and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Seadrill presently has an average rating of "Moderate Buy" and an average target price of $59.40.
Check Out Our Latest Stock Report on Seadrill
Seadrill Company Profile
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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.
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