First Trust Advisors LP Sells 31,873 Shares of Seadrill Limited $SDRL

Key Points

• First Trust Advisors LP cut its Seadrill stake by 24.3% in the first quarter, selling 31,873 shares and retaining 99,315 shares valued at approximately $4.52 million.
• Seadrill reported quarterly revenue of $358 million, above the $326.75 million analyst estimate, but its loss of $0.11 per share narrowly missed expectations. The stock opened at $42.46, while institutional investors and hedge funds own 95.67% of shares.
• Analyst sentiment remains positive, with Seadrill holding a consensus “Moderate Buy” rating and an average price target of $55, compared with its recent share price.

First Trust Advisors LP reduced its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,315 shares of the oil and gas company's stock after selling 31,873 shares during the period. First Trust Advisors LP owned approximately 0.16% of Seadrill worth $4,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SDRL. Raymond James Financial Inc. acquired a new stake in Seadrill in the 2nd quarter valued at $27,000. Aquatic Capital Management LLC bought a new position in shares of Seadrill during the third quarter valued at $44,000. EverSource Wealth Advisors LLC bought a new position in shares of Seadrill during the second quarter valued at $42,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Seadrill in the 3rd quarter valued at $61,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Seadrill by 20.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,508 shares of the oil and gas company's stock worth $87,000 after purchasing an additional 422 shares during the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Seadrill Stock Down 0.3%

Shares of NYSE SDRL opened at $42.46 on Wednesday. Seadrill Limited has a 1 year low of $27.60 and a 1 year high of $55.47. The firm's 50-day moving average is $42.36 and its 200-day moving average is $43.87. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.66 billion, a PE ratio of -37.91 and a beta of 1.21.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on SDRL shares. Citigroup lifted their target price on shares of Seadrill from $46.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. 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. BWS Financial reiterated a "buy" rating and set a $80.00 price target on shares of Seadrill in a research report on Monday, June 29th. Fearnley Fonds upgraded shares of Seadrill from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Finally, Barclays upgraded shares of 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. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Seadrill currently has a consensus rating of "Moderate Buy" and an average target price of $55.00.

Seadrill Company 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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