AQR Capital Management LLC Acquires 169,014 Shares of Seadrill Limited $SDRL

Key Points

• AQR Capital Management LLC increased its holdings in Seadrill Limited by 333.6%, owning 219,678 shares valued at $5.49 million as of the end of the last quarter.
• Seadrill's latest earnings report showed a loss per share of ($0.68), significantly missing analyst expectations, despite revenue of $377 million.
• Analysts have set a new price target for Seadrill at $40, with ratings including two 'Buy', one 'Hold', and one 'Sell'.

AQR Capital Management LLC lifted its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 333.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 219,678 shares of the oil and gas company's stock after acquiring an additional 169,014 shares during the quarter. AQR Capital Management LLC owned 0.35% of Seadrill worth $5,492,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings 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 in the last quarter. Caldwell Sutter Capital Inc. purchased a new stake in shares of Seadrill in the first quarter valued at about $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Seadrill by 10,733.3% in the first quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 1,288 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Seadrill by 412.2% in the first quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 1,084 shares during the period. Finally, CWM LLC lifted its stake in shares of Seadrill by 30.8% in the first quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock valued at $90,000 after purchasing an additional 845 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Seadrill Price Performance

Shares of NYSE:SDRL traded down $0.63 during trading hours on Thursday, hitting $33.17. 594,653 shares of the company's stock traded hands, compared to its average volume of 725,006. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.87 and a current ratio of 1.87. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $42.41. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 29.61 and a beta of 1.62. The company's fifty day simple moving average is $30.52 and its two-hundred day simple moving average is $26.41.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Fearnley Fonds cut shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Citigroup boosted their target price on shares of Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a report on Friday, August 29th. Zacks Research upgraded shares of Seadrill to a "strong sell" rating in a research note on Tuesday, August 12th. Finally, SEB Equity Research set a $33.00 target price on shares of Seadrill in a research report on Monday, September 1st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Seadrill has an average rating of "Hold" and a consensus price target of $45.25.

Seadrill 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.