Hara Capital LLC Buys New Position in Seadrill Limited $SDRL

Key Points

• Hara Capital acquired 77,394 Seadrill shares worth approximately $2.93 million, representing 0.12% of the company and 1.5% of the fund’s portfolio.
• Institutional ownership remains high at 95.67%, with several other hedge funds and investment firms initiating positions during the second and third quarters.
• Seadrill reported quarterly EPS of $0.47, exceeding the $0.29 consensus estimate, while analysts maintain a “Moderate Buy” consensus and an average price target of $55.

Hara Capital LLC bought a new stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 77,394 shares of the oil and gas company's stock, valued at approximately $2,927,000. Seadrill comprises 1.5% of Hara Capital LLC's investment portfolio, making the stock its 19th biggest position. Hara Capital LLC owned 0.12% of Seadrill as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Seadrill during the 2nd quarter valued at $27,000. State of Wyoming bought a new position in Seadrill in the second quarter valued at $55,000. Aquatic Capital Management LLC bought a new position in Seadrill in the third quarter valued at $44,000. EverSource Wealth Advisors LLC purchased a new stake in Seadrill during the second quarter valued at about $42,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Seadrill during the third quarter valued at about $61,000. Hedge funds and other institutional investors own 95.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SDRL shares. Capital One Financial set a $55.00 price objective on Seadrill and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Fearnley Fonds raised Seadrill from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. BWS Financial restated a "buy" rating and issued a $80.00 target price on shares of Seadrill in a research report on Tuesday, August 11th. Zacks Research raised Seadrill from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Seadrill in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Seadrill has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Seadrill Trading Up 3.2%

Shares of SDRL stock opened at $47.74 on Friday. The stock has a market capitalization of $2.99 billion, a PE ratio of 1,591.33 and a beta of 1.21. Seadrill Limited has a 1-year low of $28.10 and a 1-year high of $55.47. The business has a 50-day moving average of $42.31 and a 200 day moving average of $44.59. 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 return on equity of 0.64% and a net margin of 0.07%.The business had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. As a group, sell-side analysts anticipate that Seadrill Limited will post 0.37 earnings per share for the current year.

About Seadrill

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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