Neuberger Berman Group LLC Purchases 252,363 Shares of Seadrill Limited (NYSE:SDRL)

Key Points

• Neuberger Berman Group LLC increased its stake in Seadrill Limited by 54.5%, acquiring an additional 252,363 shares, bringing its total ownership to 715,702 shares worth about $17.9 million.
• Other institutional investors are actively increasing their positions in Seadrill, with significant growth percentages reported, including Caitong International Asset Management's 254.1% increase.
• Analysts have varying outlooks on Seadrill, with Citigroup maintaining a "buy" rating and setting a price target of $36.00, while BWS Financial set an even higher target of $80.00.

Neuberger Berman Group LLC lifted its position in Seadrill Limited (NYSE:SDRL - Free Report) by 54.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,702 shares of the oil and gas company's stock after acquiring an additional 252,363 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.15% of Seadrill worth $17,893,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SDRL. Caitong International Asset Management Co. Ltd grew its position in Seadrill by 254.1% during the first 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 during the period. Caldwell Sutter Capital Inc. bought a new position in Seadrill during the first quarter valued at about $30,000. Farther Finance Advisors LLC grew its position in Seadrill by 10,733.3% during the first 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 during the period. Versant Capital Management Inc grew its position in Seadrill by 412.2% during the first quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock valued at $34,000 after buying an additional 1,084 shares during the period. Finally, Sterling Capital Management LLC grew its position in Seadrill by 756.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company's stock valued at $61,000 after buying an additional 1,384 shares during the period. Institutional investors own 95.67% of the company's stock.

Wall Street Analyst Weigh In

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

Seadrill Price Performance

Shares of NYSE:SDRL opened at $29.03 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.81 billion, a PE ratio of 25.92 and a beta of 1.61. Seadrill Limited has a twelve month low of $17.74 and a twelve month high of $45.58. The company has a 50-day moving average price of $28.54 and a two-hundred day moving average price of $26.46.

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

Seadrill Company 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.

Want to see what other hedge funds are holding SDRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seadrill Limited (NYSE:SDRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.