683 Capital Management LLC Takes $1.50 Million Position in Seadrill Limited $SDRL

Key Points

• 683 Capital Management LLC has taken a new position in Seadrill Limited, purchasing 60,000 shares valued at approximately $1.5 million.
• Seadrill's shares have recently experienced a slight increase of 0.7%, with the stock currently priced at $31.92.
• Despite reporting negative earnings per share of ($0.68), the company's revenue of $377 million surpassed analysts' expectations of $365.73 million.

683 Capital Management LLC bought a new stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 60,000 shares of the oil and gas company's stock, valued at approximately $1,500,000. 683 Capital Management LLC owned approximately 0.10% of Seadrill at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SDRL. Caitong International Asset Management Co. Ltd boosted its stake 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 purchasing an additional 813 shares in the last quarter. Caldwell Sutter Capital Inc. bought a new stake in Seadrill during the first quarter worth about $30,000. Farther Finance Advisors LLC boosted its stake in Seadrill by 10,733.3% during the first quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 1,288 shares in the last quarter. Versant Capital Management Inc boosted its stake in Seadrill by 412.2% during the first quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 1,084 shares in the last quarter. Finally, CWM LLC boosted its stake in Seadrill by 30.8% during the first quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock worth $90,000 after acquiring an additional 845 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

Seadrill Stock Up 0.7%

Shares of Seadrill stock opened at $31.92 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market capitalization of $1.99 billion, a PE ratio of 28.50 and a beta of 1.62. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $43.76. The company has a 50-day simple moving average of $29.27 and a two-hundred day simple moving average of $26.07.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zacks Research raised shares of Seadrill to a "strong sell" rating in a research note on Tuesday, August 12th. BTIG Research set a $28.00 price objective on shares of Seadrill in a research note on Monday, May 5th. Citigroup boosted their price objective on shares of Seadrill from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday. Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, BWS Financial reissued a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $49.33.

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.

Want to see what other hedge funds are holding SDRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seadrill Limited (NYSE:SDRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.