Trexquant Investment LP Boosts Stock Holdings in Seadrill Limited $SDRL

Key Points

• Trexquant Investment LP increased its stake in Seadrill Limited by 218.8%, now owning approximately 0.37% of the company valued at $5.76 million after acquiring additional shares in Q1.
• Seadrill reported a loss of $0.68 per share for the most recent quarter, missing analysts' estimates, but generated revenue of $377 million, exceeding expectations of $365.73 million.
• Hedge funds and institutional investors currently hold 95.67% of Seadrill's stock, highlighting significant institutional interest in the company.

Trexquant Investment LP boosted its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 218.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,569 shares of the oil and gas company's stock after acquiring an additional 158,254 shares during the period. Trexquant Investment LP owned about 0.37% of Seadrill worth $5,764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. purchased a new stake in Seadrill in the fourth quarter valued at $409,000. Jump Financial LLC purchased a new stake in Seadrill in the first quarter valued at $1,634,000. Exchange Traded Concepts LLC lifted its position in Seadrill by 547.7% in the first quarter. Exchange Traded Concepts LLC now owns 15,615 shares of the oil and gas company's stock valued at $390,000 after acquiring an additional 13,204 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Seadrill in the first quarter valued at $1,491,000. Finally, Invesco Ltd. raised its holdings in shares of Seadrill by 50.8% in the first quarter. Invesco Ltd. now owns 81,184 shares of the oil and gas company's stock valued at $2,030,000 after buying an additional 27,337 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SDRL. Zacks Research raised shares of Seadrill to a "strong sell" rating in a report on Tuesday, August 12th. Fearnley Fonds cut shares of Seadrill from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. BWS Financial reaffirmed a "buy" rating and issued a $80.00 target price on shares of Seadrill in a report on Tuesday, May 13th. SEB Equity Research set a $33.00 target price on shares of Seadrill in a report on Monday. Finally, Citigroup upped their target price on shares of Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a report on Friday, August 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Seadrill currently has a consensus rating of "Hold" and a consensus price target of $45.25.

Seadrill Stock Performance

NYSE SDRL traded down $0.02 during trading hours on Thursday, hitting $32.76. 915,843 shares of the stock were exchanged, compared to its average volume of 1,000,998. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 29.25 and a beta of 1.62. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $42.41. The stock has a 50-day moving average of $29.53 and a 200 day moving average of $26.08. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21.

Seadrill (NYSE:SDRL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($1.36). The firm had revenue of $377.00 million for the quarter, compared to analysts' expectations of $365.73 million. Seadrill had a return on equity of 1.58% and a net margin of 5.68%. As a group, equities research analysts forecast that Seadrill Limited will post 1.86 earnings per share for the current year.

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.