Seadrill Limited $SDRL Shares Purchased by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Seadrill Limited by 345.0% in the first quarter, owning 140,346 shares worth approximately $3.5 million.
• Several other institutional investors also increased their positions in Seadrill, with overall institutional ownership now at 95.67%.
• Wall Street analysts have mixed views on Seadrill, with varying ratings including "buy," "hold," and "sell," and an average target price of $45.25.

Canada Pension Plan Investment Board increased its position in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 345.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,346 shares of the oil and gas company's stock after purchasing an additional 108,810 shares during the period. Canada Pension Plan Investment Board owned approximately 0.23% of Seadrill worth $3,509,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SDRL. State of Wyoming grew its position in Seadrill by 9.8% during the first quarter. State of Wyoming now owns 5,162 shares of the oil and gas company's stock worth $129,000 after buying an additional 462 shares during the period. Trexquant Investment LP grew its position in Seadrill by 218.8% during the first quarter. Trexquant Investment LP now owns 230,569 shares of the oil and gas company's stock worth $5,764,000 after buying an additional 158,254 shares during the period. Ieq Capital LLC grew its position in Seadrill by 29.6% during the first quarter. Ieq Capital LLC now owns 18,503 shares of the oil and gas company's stock worth $463,000 after buying an additional 4,228 shares during the period. Systematic Financial Management LP grew its position in Seadrill by 5.1% during the first quarter. Systematic Financial Management LP now owns 474,400 shares of the oil and gas company's stock worth $11,860,000 after buying an additional 23,135 shares during the period. Finally, Jump Financial LLC acquired a new position in Seadrill during the first quarter worth about $1,634,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Zacks Research upgraded shares of Seadrill to a "strong sell" rating in a research report on Tuesday, August 12th. BWS Financial restated a "buy" rating and set a $80.00 target price on shares of Seadrill in a research report on Tuesday, May 13th. SEB Equity Research set a $33.00 target price on shares of Seadrill in a research report on Monday, September 1st. Citigroup upped their target price on shares of Seadrill from $36.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Fearnley Fonds lowered shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $45.25.

Seadrill Price Performance

Shares of SDRL traded down $0.14 during mid-day trading on Tuesday, reaching $32.54. 101,195 shares of the company's stock were exchanged, compared to its average volume of 990,770. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $29.93 and a two-hundred day simple moving average of $26.12. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $42.41. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 29.05 and a beta of 1.62.

Seadrill (NYSE:SDRL - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($1.36). Seadrill had a return on equity of 1.58% and a net margin of 5.68%.The firm had revenue of $377.00 million for the quarter, compared to analyst estimates of $365.73 million. On average, sell-side analysts predict that Seadrill Limited will post 1.86 EPS for the current fiscal 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.