Seadrill Limited (NYSE:SDRL) Holdings Decreased by Invesco Senior Secured Management Inc. ADV

Key Points

• Invesco Senior Secured Management Inc. reduced its holdings in Seadrill Limited by 4.0%, owning 752,021 shares worth approximately $18.8 million, making it the second-largest position in its investment portfolio.
• Other institutional investors have significantly increased their stakes in Seadrill, with some, like Farther Finance Advisors LLC, raising their stake by over 10,000% during the first quarter.
• Analysts have set varied price targets for Seadrill, ranging from $28.00 to $80.00, while the company reported a loss of $0.68 EPS for the recent quarter, missing consensus estimates.

Invesco Senior Secured Management Inc. ADV reduced its stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 752,021 shares of the oil and gas company's stock after selling 31,031 shares during the quarter. Seadrill makes up about 31.6% of Invesco Senior Secured Management Inc. ADV's holdings, making the stock its 2nd biggest holding. Invesco Senior Secured Management Inc. ADV owned about 1.21% of Seadrill worth $18,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in Seadrill by 409.8% in the 4th quarter. LPL Financial LLC now owns 57,543 shares of the oil and gas company's stock worth $2,240,000 after purchasing an additional 46,255 shares in the last quarter. Vanguard Group Inc. increased its holdings in Seadrill by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 540,864 shares of the oil and gas company's stock worth $21,056,000 after acquiring an additional 16,230 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Seadrill by 134.8% in the 4th quarter. JPMorgan Chase & Co. now owns 206,738 shares of the oil and gas company's stock worth $8,048,000 after acquiring an additional 118,699 shares in the last quarter. Geode Capital Management LLC increased its holdings in Seadrill by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 833,388 shares of the oil and gas company's stock worth $32,444,000 after acquiring an additional 7,041 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Seadrill by 34.9% during the 4th quarter. Wells Fargo & Company MN now owns 38,325 shares of the oil and gas company's stock valued at $1,492,000 after buying an additional 9,914 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Seadrill Trading Up 0.7%

SDRL traded up $0.20 during trading on Wednesday, reaching $29.03. The company had a trading volume of 986,167 shares, compared to its average volume of 1,017,296. The stock has a market cap of $1.81 billion, a P/E ratio of 25.92 and a beta of 1.61. The business has a 50 day simple moving average of $28.45 and a 200-day simple moving average of $26.52. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $45.58. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of $0.68 by ($1.36). Seadrill had a return on equity of 1.58% and a net margin of 5.68%. The business had revenue of $377.00 million for the quarter, compared to the consensus estimate of $365.73 million. On average, equities analysts anticipate that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SDRL. BWS Financial reaffirmed a "buy" rating and set a $80.00 price objective on shares of Seadrill in a report on Tuesday, May 13th. Citigroup reaffirmed a "buy" rating and set a $36.00 price objective (up from $35.00) on shares of Seadrill in a report on Wednesday, June 18th. Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, BTIG Research set a $28.00 price target on Seadrill in a research report on Monday, May 5th.

Seadrill 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.