Bank of America Corp DE lifted its stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 100.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 399,438 shares of the oil and gas company's stock after purchasing an additional 200,435 shares during the period. Bank of America Corp DE owned 0.54% of Seadrill worth $15,550,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SDRL. Headlands Technologies LLC bought a new position in Seadrill during the fourth quarter worth about $28,000. Sterling Capital Management LLC raised its stake in Seadrill by 756.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company's stock valued at $61,000 after acquiring an additional 1,384 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Seadrill by 10.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company's stock valued at $146,000 after purchasing an additional 354 shares during the last quarter. Cibc World Markets Corp acquired a new stake in Seadrill during the 4th quarter valued at $253,000. Finally, Summit Investment Advisors Inc. boosted its position in Seadrill by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company's stock worth $283,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 95.67% of the company's stock.
Seadrill Stock Performance
NYSE SDRL opened at $23.29 on Thursday. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $56.46. The firm has a 50-day moving average price of $22.55 and a two-hundred day moving average price of $31.00. The company has a market capitalization of $1.45 billion, a P/E ratio of 4.06 and a beta of 1.48. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.
Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.48). The company had revenue of $335.00 million for the quarter, compared to analyst estimates of $325.69 million. Seadrill had a return on equity of 7.24% and a net margin of 27.79%. Analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on SDRL shares. BTIG Research set a $28.00 price objective on shares of Seadrill in a research report on Monday, May 5th. Citigroup reduced their price target on Seadrill from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a report on Tuesday, May 13th.
Read Our Latest Stock Report on Seadrill
Seadrill Company Profile
(
Free Report)
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.
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