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 raised its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 333.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,678 shares of the oil and gas company's stock after acquiring an additional 169,014 shares during the period. AQR Capital Management LLC owned approximately 0.35% of Seadrill worth $5,492,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its position 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 worth $28,000 after acquiring an additional 813 shares in the last quarter. Caldwell Sutter Capital Inc. bought a new position in shares of Seadrill in the 1st quarter valued at $30,000. Farther Finance Advisors LLC raised 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 lifted its holdings 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 worth $34,000 after acquiring an additional 1,084 shares during the last quarter. Finally, CWM LLC lifted its stake in 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 purchasing an additional 845 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Performance

SDRL stock traded up $0.23 during mid-day trading on Monday, hitting $33.01. The company had a trading volume of 1,094,266 shares, compared to its average volume of 740,977. 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 firm has a market cap of $2.05 billion, a PE ratio of 29.47 and a beta of 1.62. 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 $30.34 and its two-hundred day moving average price is $26.25.

Seadrill (NYSE:SDRL - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 forecast that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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