72,628 Shares in Seadrill Limited $SDRL Bought by Walleye Capital LLC

Key Points

• Walleye Capital bought 72,628 Seadrill shares worth approximately $2.75 million, establishing a position equal to about 0.12% of the company.
• Institutional ownership reached 95.67%, with several other investment firms also adding to or initiating positions in Seadrill during the second quarter.
• Seadrill reported quarterly EPS of $0.47, beating estimates by $0.18, while revenue of $430 million exceeded forecasts. Analysts hold a consensus “Moderate Buy” rating with an average price target of $55.

Walleye Capital LLC purchased a new position in Seadrill Limited (NYSE:SDRL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 72,628 shares of the oil and gas company's stock, valued at approximately $2,747,000. Walleye Capital LLC owned approximately 0.12% of Seadrill as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in shares of Seadrill by 23.1% in the second quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company's stock valued at $1,012,000 after acquiring an additional 7,233 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Seadrill during the second quarter worth about $42,000. Federated Hermes Inc. grew its position in shares of Seadrill by 394,614.3% during the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company's stock worth $5,802,000 after purchasing an additional 220,984 shares in the last quarter. Cerity Partners LLC bought a new stake in Seadrill during the 2nd quarter valued at approximately $696,000. Finally, Sei Investments Co. bought a new stake in Seadrill during the 2nd quarter valued at approximately $375,000. 95.67% of the stock is owned by institutional investors.

Seadrill Trading Up 1.9%

Shares of SDRL stock opened at $47.89 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.94 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 1,596.43 and a beta of 1.21. Seadrill Limited has a 12-month low of $28.10 and a 12-month high of $55.47. The stock's 50-day moving average price is $42.13 and its 200-day moving average price is $44.32.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BTIG Research boosted their price target on Seadrill from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Capital One Financial set a $55.00 price objective on shares of Seadrill and gave the company an "overweight" rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Seadrill in a research report on Tuesday, June 30th. Barclays raised shares of Seadrill from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $41.00 to $59.00 in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Seadrill from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

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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