Bridgeway Capital Management LLC Makes New $10.39 Million Investment in Seadrill Limited $SDRL

Key Points

• Bridgeway Capital Management LLC has made a new investment in Seadrill Limited, acquiring 415,580 shares valued at approximately $10.39 million.
• Seadrill had a disappointing earnings report, with an earnings per share miss of ($0.68), compared to a consensus estimate of $0.68.
• The stock has experienced varied analyst ratings, with a consensus target price of $45.25 and three analysts rating it as a Buy.

Bridgeway Capital Management LLC acquired a new position in Seadrill Limited (NYSE:SDRL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 415,580 shares of the oil and gas company's stock, valued at approximately $10,390,000. Bridgeway Capital Management LLC owned about 0.67% of Seadrill as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in 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 buying an additional 813 shares during the last quarter. Caldwell Sutter Capital Inc. purchased a new stake in Seadrill in the 1st quarter valued at about $30,000. Farther Finance Advisors LLC boosted its stake in shares of Seadrill by 10,733.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock worth $33,000 after buying an additional 1,288 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Seadrill by 412.2% during the 1st quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 1,084 shares during the period. Finally, CWM LLC boosted its holdings in shares of Seadrill by 30.8% in the 1st quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock worth $90,000 after buying an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 95.67% of the company's stock.

Seadrill Price Performance

NYSE:SDRL opened at $32.74 on Thursday. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $42.41. The stock has a fifty day moving average of $29.53 and a 200 day moving average of $26.08. 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 capitalization of $2.04 billion, a price-to-earnings ratio of 29.23 and a beta of 1.62.

Seadrill (NYSE:SDRL - Get Free Report) last announced 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 business had revenue of $377.00 million during the quarter, compared to the consensus estimate of $365.73 million. Seadrill had a return on equity of 1.58% and a net margin of 5.68%. On average, research analysts expect that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Seadrill to a "strong sell" rating in a research note on Tuesday, August 12th. Fearnley Fonds downgraded Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. BWS Financial reissued a "buy" rating and set a $80.00 price objective on shares of Seadrill in a report on Tuesday, May 13th. SEB Equity Research set a $33.00 target price on Seadrill in a research note on Monday. Finally, Citigroup increased their price target on Seadrill from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.

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