Algert Global LLC Acquires Shares of 175,482 Seadrill Limited $SDRL

Key Points

• Algert Global LLC acquired 175,482 Seadrill shares worth approximately $6.6 million, representing 0.28% of the company. Institutional investors collectively own 95.67% of Seadrill.
• Analyst sentiment is broadly positive, with Seadrill receiving a consensus “Moderate Buy” rating and an average price target of $55.00; several firms recently upgraded the stock.
• Seadrill exceeded quarterly expectations, reporting $0.47 in EPS versus a $0.29 estimate and revenue of $430 million, above the $388.46 million consensus forecast.

Algert Global LLC bought a new stake in Seadrill Limited (NYSE:SDRL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 175,482 shares of the oil and gas company's stock, valued at approximately $6,637,000. Algert Global LLC owned 0.28% of Seadrill at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tairen Capital Ltd bought a new stake in shares of Seadrill during the 2nd quarter valued at $2,330,000. Dimensional Fund Advisors LP lifted its position in shares of Seadrill by 10.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company's stock valued at $161,671,000 after acquiring an additional 326,835 shares in the last quarter. Elliott Investment Management L.P. boosted its stake in shares of Seadrill by 3.5% in the first quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company's stock worth $214,718,000 after acquiring an additional 160,327 shares during the period. Quantinno Capital Management LP grew its position in shares of Seadrill by 91.9% during the first quarter. Quantinno Capital Management LP now owns 71,916 shares of the oil and gas company's stock worth $3,272,000 after purchasing an additional 34,436 shares in the last quarter. Finally, Foresight Global Investors Inc. purchased a new position in Seadrill in the 2nd quarter worth approximately $3,574,000. Institutional investors own 95.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SDRL shares. Capital One Financial set a $55.00 price target on shares of Seadrill and gave the company an "overweight" rating in a report on Wednesday, July 1st. BWS Financial reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a research note on Tuesday, August 11th. Barclays upgraded Seadrill from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $41.00 to $59.00 in a research report on Thursday, May 7th. Weiss Ratings reissued a "sell (d+)" rating on shares of Seadrill in a research note on Tuesday, June 30th. Finally, Fearnley Fonds upgraded Seadrill from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Three 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Seadrill has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Seadrill Price Performance

Shares of SDRL stock opened at $46.38 on Thursday. The company has a market capitalization of $2.90 billion, a P/E ratio of 1,546.00 and a beta of 1.21. The company's 50-day simple moving average is $42.72 and its two-hundred day simple moving average is $44.83. Seadrill Limited has a one year low of $28.10 and a one year high of $55.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

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 the consensus estimate of $0.29 by $0.18. The firm had revenue of $430.00 million for 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%. As a group, equities analysts anticipate that Seadrill Limited will post 0.37 EPS for the current year.

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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