KLP Kapitalforvaltning AS Acquires Shares of 12,200 Seadrill Limited $SDRL

Key Points

• KLP Kapitalforvaltning AS has acquired a stake of 12,200 shares in Seadrill Limited, valued at approximately $320,000, as part of their recent 13F filing with the SEC.
• Other hedge funds have also significantly increased their holdings in Seadrill, with some like Farther Finance Advisors LLC boosting their investment by over 10,000% during the first quarter.
• Seadrill reported a miss on earnings with ($0.68) EPS, while generating revenue of $377 million, exceeding estimates, and currently has total institutional ownership of 95.67%.

KLP Kapitalforvaltning AS bought a new stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,200 shares of the oil and gas company's stock, valued at approximately $320,000.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Seadrill by 254.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company's stock valued at $28,000 after buying an additional 813 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Seadrill by 319.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,237 shares of the oil and gas company's stock valued at $32,000 after buying an additional 942 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Seadrill by 10,733.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock valued at $33,000 after buying an additional 1,288 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Seadrill by 679.3% during the 2nd quarter. Signaturefd LLC now owns 1,886 shares of the oil and gas company's stock valued at $50,000 after buying an additional 1,644 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Seadrill by 30.8% during the 1st quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock valued at $90,000 after buying an additional 845 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

Seadrill Price Performance

SDRL opened at $29.51 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market capitalization of $1.84 billion, a P/E ratio of 26.35 and a beta of 1.58. The company's 50-day simple moving average is $31.17 and its two-hundred day simple moving average is $27.32. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $42.36.

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

Analyst Ratings Changes

A number of brokerages have recently commented on SDRL. Barclays assumed coverage on shares of Seadrill in a report on Tuesday, October 7th. They set an "equal weight" rating and a $33.00 target price on the stock. Fearnley Fonds downgraded shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Zacks Research raised shares of Seadrill from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 7th. Citigroup increased their price objective on shares of Seadrill from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Seadrill in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $43.20.

About Seadrill

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.

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