Seadrill Limited $SDRL Position Increased 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 lifted its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 345.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,346 shares of the oil and gas company's stock after purchasing an additional 108,810 shares during the quarter. Canada Pension Plan Investment Board owned 0.23% of Seadrill worth $3,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Condire Management LP lifted its holdings in Seadrill by 18.2% during the fourth quarter. Condire Management LP now owns 3,039,615 shares of the oil and gas company's stock valued at $118,332,000 after purchasing an additional 467,623 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Seadrill in the 4th quarter valued at about $66,400,000. Patient Capital Management LLC grew its holdings in Seadrill by 63.5% during the fourth quarter. Patient Capital Management LLC now owns 1,676,777 shares of the oil and gas company's stock worth $65,277,000 after acquiring an additional 651,132 shares during the period. Millennium Management LLC raised 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 worth $51,413,000 after purchasing an additional 663,362 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC increased its stake in Seadrill by 151.9% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 1,200,201 shares of the oil and gas company's stock valued at $30,149,000 after acquiring an additional 723,827 shares during the period. Institutional investors own 95.67% of the company's stock.

Seadrill Trading Down 0.4%

SDRL stock traded down $0.14 on Monday, reaching $32.62. The company's stock had a trading volume of 337,946 shares, compared to its average volume of 994,394. The firm has a market cap of $2.03 billion, a PE ratio of 29.19 and a beta of 1.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.87 and a current ratio of 1.87. Seadrill Limited has a 12-month low of $17.74 and a 12-month high of $42.41. The business has a fifty day simple moving average of $29.80 and a two-hundred day simple moving average of $26.10.

Seadrill (NYSE:SDRL - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported ($0.68) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $365.73 million. As a group, research analysts forecast that Seadrill Limited will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

SDRL has been the subject of several recent research reports. BWS Financial restated a "buy" rating and issued a $80.00 price target on shares of Seadrill in a research note on Tuesday, May 13th. Citigroup upped their price target on Seadrill from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Fearnley Fonds downgraded Seadrill from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Zacks Research raised Seadrill to a "strong sell" rating in a research note on Tuesday, August 12th. Finally, SEB Equity Research set a $33.00 target price on shares of Seadrill in a report on Monday, September 1st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $45.25.

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.