Exchange Traded Concepts LLC Raises Stock Position in Seadrill Limited (NYSE:SDRL)

Exchange Traded Concepts LLC increased its holdings in Seadrill Limited (NYSE:SDRL - Free Report) by 547.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,615 shares of the oil and gas company's stock after buying an additional 13,204 shares during the quarter. Exchange Traded Concepts LLC's holdings in Seadrill were worth $390,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SDRL. Headlands Technologies LLC bought a new position in Seadrill in the fourth quarter worth approximately $28,000. Caldwell Sutter Capital Inc. bought a new position in shares of Seadrill during the 1st quarter valued at approximately $30,000. Farther Finance Advisors LLC lifted its holdings in 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 purchasing an additional 1,288 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Seadrill by 412.2% during the 1st quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 1,084 shares during the period. Finally, Sterling Capital Management LLC raised its position in shares of Seadrill by 756.3% during the 4th 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

SDRL has been the subject of a number of analyst reports. BTIG Research set a $28.00 price target on Seadrill in a research note on Monday, May 5th. Citigroup reaffirmed a "buy" rating and issued a $36.00 price objective (up previously from $35.00) on shares of Seadrill in a research note on Wednesday, June 18th. Finally, BWS Financial reiterated a "buy" rating and set a $80.00 target price on shares of Seadrill in a research report on Tuesday, May 13th.

Seadrill Price Performance

Shares of SDRL stock traded down $0.11 during mid-day trading on Wednesday, hitting $25.98. The company had a trading volume of 1,002,110 shares, compared to its average volume of 1,030,838. The company has a market capitalization of $1.62 billion, a P/E ratio of 4.91 and a beta of 1.55. The stock's 50 day moving average price is $24.21 and its 200-day moving average price is $28.54. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $56.46. 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 (NYSE:SDRL - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.48). The company had revenue of $335.00 million during the quarter, compared to analysts' expectations of $325.69 million. Seadrill had a return on equity of 4.68% and a net margin of 27.49%. Equities research analysts forecast that Seadrill Limited will post 1.86 earnings per share for the current year.

Seadrill Company Profile

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.