Seadrill Limited (NYSE:SDRL) is Sourcerock Group LLC's 9th Largest Position

Sourcerock Group LLC lowered its holdings in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,011,438 shares of the oil and gas company's stock after selling 193,144 shares during the period. Seadrill comprises 2.8% of Sourcerock Group LLC's portfolio, making the stock its 9th largest holding. Sourcerock Group LLC owned approximately 1.37% of Seadrill worth $39,375,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Summit Investment Advisors Inc. raised its position in shares of Seadrill by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,268 shares of the oil and gas company's stock valued at $283,000 after buying an additional 325 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Seadrill by 10.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company's stock valued at $146,000 after buying an additional 354 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Seadrill in the fourth quarter valued at approximately $28,000. Sterling Capital Management LLC grew its holdings in Seadrill by 756.3% in 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 purchasing an additional 1,384 shares during the period. Finally, Rhumbline Advisers grew its holdings in Seadrill by 2.0% in the fourth quarter. Rhumbline Advisers now owns 103,205 shares of the oil and gas company's stock valued at $4,018,000 after purchasing an additional 2,050 shares during the period. Institutional investors and hedge funds own 95.67% of the company's stock.

Seadrill Trading Down 2.1%

SDRL traded down $0.50 during trading on Wednesday, hitting $23.29. 413,939 shares of the company's stock were exchanged, compared to its average volume of 963,081. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. Seadrill Limited has a 1 year low of $17.74 and a 1 year high of $56.46. The stock has a 50 day moving average price of $22.55 and a 200 day moving average price of $31.00. The firm has a market cap of $1.45 billion, a P/E ratio of 4.06 and a beta of 1.48.

Seadrill (NYSE:SDRL - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.48). Seadrill had a return on equity of 7.24% and a net margin of 27.79%. The business had revenue of $335.00 million for the quarter, compared to analysts' expectations of $325.69 million. As a group, analysts expect that Seadrill Limited will post 1.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup lowered their target price on shares of Seadrill from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. BWS Financial restated a "buy" rating and issued a $80.00 target price on shares of Seadrill in a report on Tuesday, May 13th. Finally, BTIG Research set a $28.00 target price on shares of Seadrill in a report on Monday, May 5th.

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.