Cedar Wealth Management LLC Purchases New Position in Seadrill Limited (NYSE:SDRL)

Key Points

• Cedar Wealth Management LLC has acquired 10,683 shares of Seadrill Limited, valued at approximately $267,000, during the first quarter.
• Institutional investors own 95.67% of Seadrill’s stock, with notable purchases from BNP Paribas Financial Markets and Millennium Management LLC increasing their stakes significantly.
• Seadrill has received a mix of ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $51.00.

Cedar Wealth Management LLC purchased a new position in Seadrill Limited (NYSE:SDRL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,683 shares of the oil and gas company's stock, valued at approximately $267,000.

Several other hedge funds have also recently made changes to their positions in SDRL. Headlands Technologies LLC bought a new position in Seadrill in the fourth quarter worth approximately $28,000. Caldwell Sutter Capital Inc. purchased a new stake in shares of Seadrill in the 1st quarter worth $30,000. Farther Finance Advisors LLC increased 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 purchasing an additional 1,288 shares in the last quarter. Versant Capital Management Inc raised its holdings in Seadrill by 412.2% in 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, Sterling Capital Management LLC grew its holdings in 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 valued at $61,000 after purchasing an additional 1,384 shares during the period. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BWS Financial reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a research note on Tuesday, May 13th. Citigroup restated a "buy" rating and set a $36.00 target price (up previously from $35.00) on shares of Seadrill in a research note on Wednesday, June 18th. Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, BTIG Research set a $28.00 price objective on shares of Seadrill in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.00.

Seadrill Price Performance

NYSE SDRL traded up $0.48 during trading hours on Wednesday, reaching $30.27. The company's stock had a trading volume of 534,893 shares, compared to its average volume of 1,015,889. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $47.08. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 5.72 and a beta of 1.61. The firm's 50-day moving average price is $27.96 and its 200-day moving average price is $26.82.

Seadrill (NYSE:SDRL - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.48). Seadrill had a net margin of 27.49% and a return on equity of 4.68%. The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $325.69 million. On average, equities research analysts predict that Seadrill Limited will post 1.86 EPS for the current fiscal year.

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.