BNP Paribas Financial Markets Has $41.83 Million Stock Holdings in Seadrill Limited $SDRL

Key Points

• BNP Paribas Financial Markets has reduced its stake in Seadrill Limited by 1.9%, now owning 1,673,183 shares valued at approximately $41.83 million.
• Seadrill reported a quarterly loss of ($0.68) EPS, missing analyst expectations, despite generating revenue of $377 million.
• The stock has experienced considerable interest from institutional investors, with 95.67% of its shares now held by hedge funds and other institutions.

BNP Paribas Financial Markets reduced its position in Seadrill Limited (NYSE:SDRL - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,673,183 shares of the oil and gas company's stock after selling 32,446 shares during the period. BNP Paribas Financial Markets owned about 2.69% of Seadrill worth $41,830,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SDRL. Goehring & Rozencwajg Associates LLC increased its holdings in shares of Seadrill by 151.9% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,200,201 shares of the oil and gas company's stock worth $30,149,000 after acquiring an additional 723,827 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Seadrill by 100.9% during the 4th quarter. Millennium Management LLC now owns 1,320,640 shares of the oil and gas company's stock worth $51,413,000 after acquiring an additional 663,362 shares during the last quarter. Patient Capital Management LLC increased its holdings in shares of Seadrill by 63.5% during the 4th quarter. Patient Capital Management LLC now owns 1,676,777 shares of the oil and gas company's stock worth $65,277,000 after acquiring an additional 651,132 shares during the last quarter. Condire Management LP increased its holdings in shares of Seadrill by 18.2% during the 4th quarter. Condire Management LP now owns 3,039,615 shares of the oil and gas company's stock worth $118,332,000 after acquiring an additional 467,623 shares during the last quarter. Finally, SIR Capital Management L.P. acquired a new position in shares of Seadrill during the 4th quarter worth approximately $11,318,000. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Performance

Seadrill stock remained flat at $32.74 during mid-day trading on Friday. 345,830 shares of the company's stock were exchanged, compared to its average volume of 997,002. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $42.41. 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 $2.04 billion, a P/E ratio of 29.29 and a beta of 1.62. The company has a fifty day moving average of $29.67 and a two-hundred day moving average of $26.13.

Seadrill (NYSE:SDRL - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($1.36). The company had revenue of $377.00 million during the quarter, compared to analyst estimates of $365.73 million. Seadrill had a net margin of 5.68% and a return on equity of 1.58%. Research analysts forecast that Seadrill Limited will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

SDRL has been the subject of several recent research reports. Zacks Research upgraded Seadrill to a "strong sell" rating in a research note on Tuesday, August 12th. BWS Financial reaffirmed a "buy" rating and set a $80.00 target price on shares of Seadrill in a report on Tuesday, May 13th. Fearnley Fonds downgraded Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. SEB Equity Research set a $33.00 target price on Seadrill in a research report on Monday. Finally, Citigroup upped their target price on Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $45.25.

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.