Mountain Lake Investment Management LLC Buys 42,939 Shares of Seadrill Limited $SDRL

Key Points

• Mountain Lake Investment Management LLC increased its stake in Seadrill Limited by 27.8%, reaching ownership of 197,639 shares valued at approximately $4.94 million. This makes Seadrill the 10th largest position in their investment portfolio.
• Several other institutional investors also boosted their holdings in Seadrill, with increases ranging from 254.1% to 10,733.3% in their total stakes during the first quarter.
• Seadrill reported a quarterly loss of ($0.68) earnings per share, which fell short of analysts' projections, although their revenue of $377 million exceeded expectations.

Mountain Lake Investment Management LLC boosted its stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 27.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 197,639 shares of the oil and gas company's stock after buying an additional 42,939 shares during the period. Seadrill accounts for 4.7% of Mountain Lake Investment Management LLC's investment portfolio, making the stock its 10th largest position. Mountain Lake Investment Management LLC owned 0.32% of Seadrill worth $4,941,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. Northern Trust Corp boosted its stake in shares of Seadrill by 4.5% in the 4th quarter. Northern Trust Corp now owns 439,364 shares of the oil and gas company's stock valued at $17,104,000 after buying an additional 18,890 shares during the period. Ameriprise Financial Inc. acquired a new position in Seadrill during the fourth quarter worth approximately $409,000. Bank of America Corp DE increased its position in Seadrill by 100.7% during the fourth quarter. Bank of America Corp DE now owns 399,438 shares of the oil and gas company's stock worth $15,550,000 after buying an additional 200,435 shares during the period. Centiva Capital LP increased its position in Seadrill by 56.0% during the fourth quarter. Centiva Capital LP now owns 10,551 shares of the oil and gas company's stock worth $411,000 after buying an additional 3,789 shares during the period. Finally, Crestline Management LP acquired a new position in shares of Seadrill in the fourth quarter valued at approximately $216,000. Institutional investors and hedge funds own 95.67% of the company's stock.

Seadrill Stock Performance

Shares of Seadrill stock traded up $0.43 on Thursday, reaching $32.91. 309,821 shares of the company were exchanged, compared to its average volume of 988,136. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $42.41. 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 firm has a market cap of $2.05 billion, a price-to-earnings ratio of 29.38 and a beta of 1.62. The company's 50-day moving average is $30.09 and its two-hundred day moving average is $26.14.

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

Wall Street Analyst Weigh In

SDRL has been the topic of a number of analyst reports. SEB Equity Research set a $33.00 price target on Seadrill in a research note on Monday, September 1st. Citigroup upped their price objective on Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Zacks Research upgraded Seadrill to a "strong sell" rating in a research report on Tuesday, August 12th. Finally, Fearnley Fonds lowered Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $45.25.

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.