Empowered Funds LLC Buys New Stake in Seadrill Limited $SDRL

Key Points

• Empowered Funds LLC bought 133,948 Seadrill shares worth approximately $5.1 million, representing a 0.21% stake. Institutional investors collectively own 95.67% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $59.40, compared with Seadrill’s opening price of $48.57.
• Seadrill exceeded quarterly expectations, reporting EPS of $0.47 versus the $0.29 consensus and revenue of $430 million versus estimates of $388.46 million.

Empowered Funds LLC purchased a new position in shares of Seadrill Limited (NYSE:SDRL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 133,948 shares of the oil and gas company's stock, valued at approximately $5,066,000. Empowered Funds LLC owned 0.21% of Seadrill as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of SDRL. Russell Investments Group Ltd. increased its holdings in shares of Seadrill by 23.1% during the second quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company's stock valued at $1,012,000 after purchasing an additional 7,233 shares during the period. EverSource Wealth Advisors LLC bought a new position in Seadrill in the 2nd quarter valued at about $42,000. Federated Hermes Inc. increased its stake in Seadrill by 394,614.3% during the 2nd quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company's stock valued at $5,802,000 after buying an additional 220,984 shares during the period. Cerity Partners LLC acquired a new position in Seadrill during the 2nd quarter valued at about $696,000. Finally, Sei Investments Co. bought a new stake in shares of Seadrill during the 2nd quarter worth about $375,000. Institutional investors own 95.67% of the company's stock.

Wall Street Analysts Forecast Growth

SDRL has been the subject of a number of research analyst reports. BWS Financial reaffirmed a "buy" rating and issued a $80.00 price target on shares of Seadrill in a research note on Tuesday, August 11th. Capital One Financial set a $55.00 target price on Seadrill and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Barclays upgraded Seadrill from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $41.00 to $59.00 in a research report on Thursday, May 7th. Fearnley Fonds raised Seadrill from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Seadrill in a research note on Tuesday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.40.

Seadrill Stock Up 2.0%

NYSE SDRL opened at $48.57 on Tuesday. Seadrill Limited has a 12 month low of $28.10 and a 12 month high of $55.47. The company has a market capitalization of $3.04 billion, a P/E ratio of 1,619.00 and a beta of 1.21. The company's 50 day simple moving average is $43.28 and its 200 day simple moving average is $44.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Seadrill (NYSE:SDRL - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The firm had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. Equities research analysts expect that Seadrill Limited will post 0.37 earnings per share for the current fiscal year.

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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