Foresight Global Investors Inc. Acquires New Stake in Seadrill Limited $SDRL

Key Points

• Foresight Global Investors initiated a Seadrill position of 94,510 shares worth approximately $3.6 million, representing about 0.15% of the company and 2.2% of its portfolio.
• Institutional ownership remains high at 95.67%, with BlackRock, Schf GPE, Elliott Investment Management and other funds also building or initiating positions.
• Analysts hold a “Moderate Buy” consensus with an average $55 price target. Seadrill’s latest quarterly results beat expectations, reporting $0.47 earnings per share versus a $0.29 consensus and $430 million in revenue.

Foresight Global Investors Inc. bought 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 SEC. The institutional investor bought 94,510 shares of the oil and gas company's stock, valued at approximately $3,574,000. Seadrill makes up approximately 2.2% of Foresight Global Investors Inc.'s investment portfolio, making the stock its 12th largest position. Foresight Global Investors Inc. owned about 0.15% of Seadrill at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Seadrill in the second quarter worth $207,509,000. Schf GPE LLC acquired a new position in Seadrill during the second quarter worth $60,132,000. Elliott Investment Management L.P. grew its position in Seadrill by 23.1% in the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company's stock valued at $157,733,000 after purchasing an additional 855,012 shares in the last quarter. Thomist Capital Management LP grew its position in Seadrill by 44.6% in the fourth quarter. Thomist Capital Management LP now owns 1,835,718 shares of the oil and gas company's stock valued at $63,387,000 after purchasing an additional 566,419 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its stake in Seadrill by 27.6% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,449,565 shares of the oil and gas company's stock valued at $111,455,000 after buying an additional 529,884 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SDRL. Zacks Research upgraded Seadrill from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Weiss Ratings restated a "sell (d+)" rating on shares of Seadrill in a report on Tuesday, June 30th. Barclays raised shares of Seadrill from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $41.00 to $59.00 in a report on Thursday, May 7th. Fearnley Fonds upgraded shares of Seadrill from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Finally, Capital One Financial set a $55.00 price target on Seadrill and gave the stock an "overweight" rating in a report on Wednesday, July 1st. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $55.00.

Seadrill Trading Down 0.5%

Shares of NYSE:SDRL opened at $46.27 on Thursday. Seadrill Limited has a 12-month low of $28.10 and a 12-month high of $55.47. The stock has a market cap of $2.89 billion, a PE ratio of 1,542.50 and a beta of 1.21. The business has a 50 day moving average of $42.24 and a 200-day moving average of $44.53. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26.

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

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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