Charles Schwab Investment Management Inc. Decreases Position in Seadrill Limited $SDRL

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Seadrill Limited by 5.3%, holding 158,875 shares valued at approximately $3.97 million as of the last quarter.
• Seadrill's latest earnings report showed a loss of ($0.68) EPS, missing analyst expectations, despite revenue of $377 million exceeding estimates.
• Institutional ownership of Seadrill stands at 95.67%, with significant stake increases from investors such as Condire Management LP and Goehring & Rozencwajg Associates LLC in recent quarters.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,875 shares of the oil and gas company's stock after selling 8,966 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.26% of Seadrill worth $3,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SDRL. Caldwell Sutter Capital Inc. bought a new position in shares of Seadrill during the first quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its stake in shares of Seadrill by 10,733.3% during the first quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock valued at $33,000 after buying an additional 1,288 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Seadrill by 412.2% during the first quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock valued at $34,000 after buying an additional 1,084 shares during the last quarter. CWM LLC grew its stake in shares of Seadrill by 30.8% during the first quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock valued at $90,000 after buying an additional 845 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Seadrill by 4,509.4% during the first quarter. GAMMA Investing LLC now owns 7,375 shares of the oil and gas company's stock valued at $184,000 after buying an additional 7,215 shares during the last quarter. Institutional investors own 95.67% of the company's stock.

Seadrill Stock Up 1.4%

NYSE SDRL traded up $0.45 during midday trading on Wednesday, hitting $32.74. 1,218,460 shares of the company traded hands, compared to its average volume of 835,887. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market cap of $2.04 billion, a PE ratio of 29.23 and a beta of 1.62. The company's 50-day simple moving average is $29.53 and its 200-day simple moving average is $26.08. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $42.41.

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 (EPS) for the quarter, missing the consensus estimate of $0.68 by ($1.36). The company had revenue of $377.00 million for the quarter, compared to the consensus estimate of $365.73 million. Seadrill had a net margin of 5.68% and a return on equity of 1.58%. As a group, equities research analysts forecast that Seadrill Limited will post 1.86 earnings per share for the current year.

Analyst Ratings Changes

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