Sourcerock Group LLC Has $39.38 Million Stock Position in Seadrill Limited (NYSE:SDRL)

Sourcerock Group LLC lessened its holdings in Seadrill Limited (NYSE:SDRL - Free Report) by 16.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,011,438 shares of the oil and gas company's stock after selling 193,144 shares during the period. Seadrill comprises approximately 2.8% of Sourcerock Group LLC's holdings, making the stock its 9th biggest position. Sourcerock Group LLC owned approximately 1.37% of Seadrill worth $39,375,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Seadrill in the 4th quarter worth approximately $28,000. Sterling Capital Management LLC lifted its stake in shares of Seadrill by 756.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,567 shares of the oil and gas company's stock worth $61,000 after purchasing an additional 1,384 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Seadrill by 10.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,754 shares of the oil and gas company's stock worth $146,000 after purchasing an additional 354 shares during the period. Crestline Management LP bought a new position in shares of Seadrill in the 4th quarter worth approximately $216,000. Finally, Cibc World Markets Corp bought a new position in shares of Seadrill in the 4th quarter worth approximately $253,000. Institutional investors own 95.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SDRL shares. BTIG Research set a $28.00 price objective on shares of Seadrill in a research note on Monday, May 5th. BWS Financial reissued a "buy" rating and set a $80.00 price target on shares of Seadrill in a report on Tuesday, May 13th. Finally, Citigroup cut their price target on Seadrill from $46.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, March 19th.

Seadrill Price Performance

Shares of SDRL stock traded up $0.28 on Friday, hitting $23.10. 470,247 shares of the stock traded hands, compared to its average volume of 964,488. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 4.03 and a beta of 1.48. Seadrill Limited has a 52 week low of $17.74 and a 52 week high of $56.46. The firm has a 50 day simple moving average of $22.48 and a two-hundred day simple moving average of $30.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53.

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

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.