Seadrill Limited $SDRL Holdings Decreased by Azarias Capital Management L.P.

Key Points

• Azarias Capital Management cut its Seadrill position by 50.1% in the third quarter, selling 105,896 shares and retaining 105,405 shares worth approximately $4.7 million. Institutional investors collectively own 95.67% of Seadrill.
• Seadrill shares fell 4.5% to $46.80, trading between a 12-month range of $28.10 and $55.47. The company recently exceeded quarterly expectations, reporting $0.47 in EPS versus the $0.29 consensus and revenue of $430 million.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $59.40; BWS Financial set the highest cited target at $80.

Azarias Capital Management L.P. lowered its position in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 50.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,405 shares of the oil and gas company's stock after selling 105,896 shares during the period. Seadrill comprises approximately 4.4% of Azarias Capital Management L.P.'s holdings, making the stock its 6th largest holding. Azarias Capital Management L.P. owned about 0.17% of Seadrill worth $4,708,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SDRL. Tairen Capital Ltd bought a new position in Seadrill during the 2nd quarter worth about $2,330,000. The Manufacturers Life Insurance Company bought a new stake in shares of Seadrill in the 2nd quarter valued at about $911,000. Foresight Global Investors Inc. bought a new stake in shares of Seadrill in the 2nd quarter valued at about $3,574,000. Dimensional Fund Advisors LP lifted its position in shares of Seadrill by 10.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,553,281 shares of the oil and gas company's stock worth $161,671,000 after purchasing an additional 326,835 shares during the period. Finally, Elliott Investment Management L.P. lifted its position in shares of Seadrill by 3.5% in the 1st quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company's stock worth $214,718,000 after purchasing an additional 160,327 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

Seadrill Stock Down 4.5%

Shares of NYSE SDRL traded down $2.20 during trading hours on Wednesday, hitting $46.80. 1,024,255 shares of the stock were exchanged, compared to its average volume of 779,467. Seadrill Limited has a 12 month low of $28.10 and a 12 month high of $55.47. The firm has a fifty day moving average price of $46.86 and a 200-day moving average price of $45.77. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The company has a market cap of $2.93 billion, a PE ratio of 1,560.13 and a beta of 1.25.

Seadrill (NYSE:SDRL - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The business had revenue of $430.00 million for the quarter, compared to analyst estimates of $388.46 million. On average, sell-side analysts expect that Seadrill Limited will post 0.89 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BWS Financial reissued a "buy" rating and set a $80.00 price objective on shares of Seadrill in a report on Wednesday. Zacks Research upgraded Seadrill from a "hold" rating to a "strong-buy" rating in a report on Monday, September 14th. Capital One Financial set a $55.00 target price on Seadrill and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Citigroup reaffirmed a "neutral" rating on shares of Seadrill in a research report on Monday, September 7th. Finally, Weiss Ratings upgraded Seadrill from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $59.40.

Seadrill Company Profile

Seadrill Limited is an offshore drilling contractor that provides drilling services to oil and gas companies worldwide. The company operates and manages offshore drilling units, including drillships and semisubmersible rigs, used to explore for and develop oil and natural gas resources in deepwater and other challenging marine environments.

Its services include contract drilling, rig operations, well construction support and related offshore services. Seadrill's fleet is designed to serve a range of offshore projects, with operations and contract activity spanning major energy-producing regions such as the Gulf of Mexico, Brazil, the North Sea, West Africa and other international markets.

Seadrill was founded in 2005 and has expanded through fleet development, acquisitions and strategic transactions.

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