Edgestream Partners L.P. Purchases 61,791 Shares of Seadrill Limited $SDRL

Key Points

• Edgestream Partners increased its Seadrill stake by 64% in the first quarter, purchasing 61,791 additional shares and bringing its holdings to 158,279 shares valued at approximately $7.2 million.
• Institutional ownership remains high at 95.67%, with several firms either expanding existing positions or initiating new stakes in Seadrill.
• Analyst sentiment is generally positive: Seadrill has a consensus “Moderate Buy” rating and an average price target of $55, despite the company slightly missing first-quarter earnings estimates.

Edgestream Partners L.P. raised its position in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,279 shares of the oil and gas company's stock after buying an additional 61,791 shares during the quarter. Edgestream Partners L.P. owned about 0.25% of Seadrill worth $7,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SDRL. Russell Investments Group Ltd. grew its position in shares of Seadrill by 23.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company's stock worth $1,012,000 after buying an additional 7,233 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Seadrill during the second quarter valued at approximately $42,000. Federated Hermes Inc. lifted its position in Seadrill by 394,614.3% during the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company's stock valued at $5,802,000 after acquiring an additional 220,984 shares during the last quarter. Cerity Partners LLC acquired a new stake in Seadrill in the second quarter valued at approximately $696,000. Finally, Sei Investments Co. acquired a new stake in Seadrill in the second quarter valued at approximately $375,000. 95.67% of the stock is currently owned by institutional investors.

Seadrill Trading Up 4.8%

Seadrill stock opened at $43.31 on Friday. The stock has a 50-day moving average price of $42.80 and a 200 day moving average price of $43.68. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -38.67 and a beta of 1.27. Seadrill Limited has a 52 week low of $27.40 and a 52 week high of $55.47. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.22.

Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Seadrill had a negative return on equity of 1.84% and a negative net margin of 4.79%.The business had revenue of $358.00 million during the quarter, compared to analyst estimates of $326.75 million. Sell-side analysts anticipate that Seadrill Limited will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SDRL. Citigroup upped their price target on Seadrill from $46.00 to $48.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. Zacks Research raised Seadrill from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Barclays upgraded Seadrill from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $41.00 to $59.00 in a research note on Thursday, May 7th. BTIG Research upped their target price on Seadrill from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Seadrill in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Seadrill has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Seadrill Profile

Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.

Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.

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