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

Cedar Wealth Management LLC bought a new position in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,683 shares of the oil and gas company's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Seadrill during the 4th quarter worth about $66,400,000. Third Point LLC acquired a new position in Seadrill in the 4th quarter worth about $39,903,000. Norges Bank purchased a new position in Seadrill during the fourth quarter worth approximately $33,104,000. Goehring & Rozencwajg Associates LLC boosted its position in Seadrill by 151.9% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,200,201 shares of the oil and gas company's stock worth $30,149,000 after purchasing an additional 723,827 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Seadrill by 100.9% in the fourth quarter. Millennium Management LLC now owns 1,320,640 shares of the oil and gas company's stock valued at $51,413,000 after purchasing an additional 663,362 shares during the period. 95.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Seadrill Stock Performance

Shares of NYSE:SDRL opened at $27.79 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.01 and a quick ratio of 2.01. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $51.84. The firm has a market capitalization of $1.73 billion, a PE ratio of 5.25 and a beta of 1.61. The business's 50 day moving average price is $27.75 and its 200-day moving average price is $27.01.

Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.48). Seadrill had a net margin of 27.49% and a return on equity of 4.68%. The firm had revenue of $335.00 million during the quarter, compared to analysts' expectations of $325.69 million. As a group, equities research analysts expect that Seadrill Limited will post 1.86 earnings per share 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.

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