Quantbot Technologies LP Takes Position in Seadrill Limited $SDRL

Key Points

• Quantbot Technologies LP acquired 55,273 Seadrill shares worth approximately $2.09 million in the second quarter, representing a 0.09% stake.
• Institutional ownership remains high at 95.67%, with several funds adding positions, including Federated Hermes, which increased its holdings to 221,040 shares.
• Analysts assign Seadrill an overall “Moderate Buy” rating with an average $55 price target. The company also beat quarterly expectations, reporting $0.47 EPS and $430 million in revenue.

Quantbot Technologies LP acquired a new stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 55,273 shares of the oil and gas company's stock, valued at approximately $2,090,000. Quantbot Technologies LP owned 0.09% of Seadrill at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Seadrill by 23.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company's stock valued at $1,012,000 after purchasing an additional 7,233 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Seadrill in the second quarter valued at $42,000. Federated Hermes Inc. lifted its holdings in shares of Seadrill by 394,614.3% in the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company's stock valued at $5,802,000 after buying an additional 220,984 shares during the period. Cerity Partners LLC bought a new position in Seadrill during the second quarter valued at about $696,000. Finally, Sei Investments Co. bought a new position in Seadrill during the second quarter valued at about $375,000. Institutional investors own 95.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Seadrill from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Weiss Ratings restated a "sell (d+)" rating on shares of Seadrill in a research report on Tuesday, June 30th. BWS Financial reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a research note on Tuesday, August 11th. Fearnley Fonds upgraded shares of Seadrill from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Finally, Capital One Financial set a $55.00 target price on shares of Seadrill and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Seadrill has an average rating of "Moderate Buy" and an average price target of $55.00.

Seadrill Stock Performance

Shares of NYSE SDRL opened at $46.71 on Tuesday. The stock's fifty day simple moving average is $42.46 and its 200 day simple moving average is $44.71. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 1,556.93 and a beta of 1.21. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47.

Seadrill (NYSE:SDRL - Get Free Report) last announced its earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.29 by $0.18. Seadrill had a return on equity of 0.64% and a net margin of 0.07%.The business had revenue of $430.00 million during the quarter, compared to the consensus estimate of $388.46 million. As a group, sell-side analysts forecast that Seadrill Limited will post 0.37 earnings per share for the current fiscal year.

Seadrill Company Profile

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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