Nuveen Asset Management LLC Raises Holdings in Seadrill Limited (NYSE:SDRL)

Nuveen Asset Management LLC increased its stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 59.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 656,908 shares of the oil and gas company's stock after purchasing an additional 245,385 shares during the period. Nuveen Asset Management LLC owned 0.89% of Seadrill worth $25,573,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in Seadrill in the fourth quarter worth $66,400,000. Third Point LLC purchased a new position in Seadrill during the 4th quarter valued at about $39,903,000. Norges Bank bought a new position in shares of Seadrill during the fourth quarter valued at approximately $33,104,000. Millennium Management LLC boosted its stake in shares of Seadrill by 100.9% during the 4th quarter. Millennium Management LLC now owns 1,320,640 shares of the oil and gas company's stock valued at $51,413,000 after purchasing an additional 663,362 shares in the last quarter. Finally, Condire Management LP boosted its position in Seadrill by 18.2% during the 4th quarter. Condire Management LP now owns 3,039,615 shares of the oil and gas company's stock valued at $118,332,000 after acquiring an additional 467,623 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors.

Seadrill Price Performance

Shares of SDRL stock traded up $0.04 on Wednesday, hitting $24.03. 99,503 shares of the stock traded hands, compared to its average volume of 977,907. 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 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 $22.42 and a two-hundred day simple moving average of $30.53. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 4.19 and a beta of 1.48.

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

Analyst Ratings Changes

A number of brokerages have recently commented on SDRL. BTIG Research set a $28.00 target price on shares of Seadrill in a report on Monday, May 5th. Citigroup dropped their target price on shares of Seadrill from $46.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Finally, BWS Financial reaffirmed a "buy" rating and set a $80.00 price target on shares of Seadrill in a research report on Tuesday, May 13th.

Seadrill 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.