Bank of America Corp DE Has $15.55 Million Stock Holdings in Seadrill Limited (NYSE:SDRL)

Bank of America Corp DE increased its holdings in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 100.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 399,438 shares of the oil and gas company's stock after buying an additional 200,435 shares during the quarter. Bank of America Corp DE owned 0.54% of Seadrill worth $15,550,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its holdings in Seadrill by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company's stock worth $283,000 after buying an additional 325 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Seadrill by 10.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company's stock worth $146,000 after acquiring an additional 354 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Seadrill during the fourth quarter worth $28,000. Sterling Capital Management LLC raised its holdings in shares of Seadrill by 756.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company's stock worth $61,000 after acquiring an additional 1,384 shares during the period. Finally, Rhumbline Advisers lifted its position in Seadrill by 2.0% in the 4th quarter. Rhumbline Advisers now owns 103,205 shares of the oil and gas company's stock valued at $4,018,000 after acquiring an additional 2,050 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Seadrill Stock Up 4.1%

SDRL traded up $0.94 during trading hours on Tuesday, hitting $24.01. 615,036 shares of the company's stock were exchanged, compared to its average volume of 965,555. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 4.18 and a beta of 1.48. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $56.46. The stock's 50-day moving average is $22.42 and its two-hundred day moving average is $30.53. 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) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.48). The business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $325.69 million. Seadrill had a return on equity of 7.24% and a net margin of 27.79%. Sell-side analysts predict that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BTIG Research set a $28.00 target price on Seadrill in a report on Monday, May 5th. Citigroup reduced their price objective on Seadrill from $46.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Finally, BWS Financial reiterated a "buy" rating and set a $80.00 price objective on shares of Seadrill in a report on Tuesday, May 13th.

About Seadrill

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.