JPMorgan Chase & Co. Lowers Stock Holdings in Seadrill Limited $SDRL

Key Points

• JPMorgan Chase trimmed its stake in Seadrill by 12.8% in Q3, selling 78,993 shares and holding 535,856 shares (about $16.19 million), leaving institutions with roughly 95.7% of the stock.
• Analyst coverage is mixed but the consensus is a “Hold” with a consensus price target of $48, as ratings range from Strong Buy to Sell across firms.
• Seadrill recently beat estimates with quarterly EPS $0.12 vs. $0.07 and revenue $362M (vs. $335.36M est.), and the stock is trading near its 12‑month high (opened at $45.48; 12‑month high $46.20).

JPMorgan Chase & Co. reduced its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 12.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,856 shares of the oil and gas company's stock after selling 78,993 shares during the period. JPMorgan Chase & Co. owned 0.86% of Seadrill worth $16,188,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Seadrill during the second quarter valued at approximately $27,000. EverSource Wealth Advisors LLC bought a new position in Seadrill in the second quarter worth approximately $42,000. Aquatic Capital Management LLC purchased a new position in Seadrill during the 3rd quarter worth $44,000. CIBC Private Wealth Group LLC bought a new stake in Seadrill during the 3rd quarter valued at $61,000. Finally, Farther Finance Advisors LLC raised its position in Seadrill by 19.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,086 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 343 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SDRL shares. Weiss Ratings downgraded Seadrill from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Seadrill from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Barclays upped their price objective on shares of Seadrill from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Monday, March 2nd. BTIG Research increased their target price on shares of Seadrill from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, January 9th. Finally, Citigroup raised shares of Seadrill from a "sell" rating to a "neutral" rating and raised their target price for the company from $32.00 to $46.00 in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $48.00.

Seadrill Stock Up 1.1%

Shares of NYSE SDRL opened at $45.48 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.84 billion, a PE ratio of -36.67 and a beta of 1.45. The stock's fifty day simple moving average is $41.67 and its two-hundred day simple moving average is $35.20. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $46.20.

Seadrill (NYSE:SDRL - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The firm had revenue of $362.00 million during the quarter, compared to analyst estimates of $335.36 million. Seadrill had a negative return on equity of 2.07% and a negative net margin of 5.36%. As a group, analysts expect that Seadrill Limited will post 1.86 EPS for the current fiscal 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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