Adage Capital Partners GP L.L.C. Has $105.01 Million Stock Holdings in Seadrill Limited $SDRL

Key Points

• Adage Capital Partners increased its stake in Seadrill Limited by 22.5% in Q1, acquiring an additional 771,366 shares, bringing its total to 4.2 million shares valued at approximately $105 million.
• Seadrill reported a loss of $0.68 per share in its most recent earnings report, missing analysts' expectations, but generated revenue of $377 million, exceeding estimates.
• Analysts have mixed views on Seadrill, with a consensus rating of "Hold" and a target price averaging $49.33, highlighting varying perspectives on the company's future performance.

Adage Capital Partners GP L.L.C. grew its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 22.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,200,535 shares of the oil and gas company's stock after purchasing an additional 771,366 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 6.75% of Seadrill worth $105,013,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Seadrill by 254.1% in 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 during the period. Caldwell Sutter Capital Inc. bought a new stake in shares of Seadrill in the 1st quarter valued at $30,000. Farther Finance Advisors LLC increased its position in shares of Seadrill by 10,733.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock valued at $33,000 after buying an additional 1,288 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Seadrill by 412.2% in the 1st quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock valued at $34,000 after buying an additional 1,084 shares in the last quarter. Finally, CWM LLC increased its position in shares of Seadrill by 30.8% in the 1st quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock valued at $90,000 after buying an additional 845 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Seadrill Stock Performance

NYSE SDRL remained flat at $32.74 on Friday. 575,784 shares of the company were exchanged, compared to its average volume of 779,585. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 29.23 and a beta of 1.62. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $42.41. The stock's fifty day moving average price is $29.80 and its two-hundred day moving average price is $26.17.

Seadrill (NYSE:SDRL - Get Free Report) last announced 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 company had revenue of $377.00 million during the quarter, compared to analyst estimates of $365.73 million. On average, research analysts forecast that Seadrill Limited will post 1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Seadrill to a "strong sell" rating in a research report on Tuesday, August 12th. Fearnley Fonds cut shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Citigroup upped 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. SEB Equity Research set a $33.00 price objective on shares of Seadrill in a research report on Monday. Finally, BWS Financial restated a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a research report on Tuesday, May 13th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Seadrill has an average rating of "Hold" and an average price target of $45.25.

Seadrill Company 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.