Maverick Capital Ltd. Raises Stock Position in Seadrill Limited $SDRL

Key Points

• Maverick Capital Ltd. increased its stake in Seadrill Limited by 189.0% during the first quarter, acquiring an additional 14,761 shares to reach a total of 22,572 shares valued at $564,000.
• Institutional investors own 95.67% of Seadrill's stock, reflecting a strong interest from various hedge funds including State of Wyoming and Caitong International Asset Management.
• Despite reporting a significant loss of ($0.68) EPS for the last quarter, Seadrill's revenue of $377.00 million exceeded analysts' expectations, indicating a potential for recovery.

Maverick Capital Ltd. increased its stake in Seadrill Limited (NYSE:SDRL - Free Report) by 189.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,572 shares of the oil and gas company's stock after buying an additional 14,761 shares during the period. Maverick Capital Ltd.'s holdings in Seadrill were worth $564,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SDRL. Mariner LLC increased its stake in Seadrill by 32.3% in the 4th quarter. Mariner LLC now owns 8,458 shares of the oil and gas company's stock worth $329,000 after buying an additional 2,063 shares during the period. Northern Trust Corp increased its stake in Seadrill by 4.5% in the 4th quarter. Northern Trust Corp now owns 439,364 shares of the oil and gas company's stock worth $17,104,000 after buying an additional 18,890 shares during the period. Ameriprise Financial Inc. purchased a new position in Seadrill in the 4th quarter worth about $409,000. BNP Paribas Financial Markets purchased a new position in Seadrill in the 4th quarter worth about $66,400,000. Finally, Bank of America Corp DE increased its stake in Seadrill by 100.7% in the 4th quarter. Bank of America Corp DE now owns 399,438 shares of the oil and gas company's stock worth $15,550,000 after buying an additional 200,435 shares during the period. Hedge funds and other institutional investors own 95.67% of the company's stock.

Seadrill Price Performance

NYSE SDRL remained flat at $32.74 during trading on Friday. 575,784 shares of the company's stock were exchanged, compared to its average volume of 779,585. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 29.23 and a beta of 1.62. The company has a 50-day simple moving average of $29.80 and a 200 day simple moving average of $26.17. Seadrill Limited has a 1-year low of $17.74 and a 1-year high of $42.41.

Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $365.73 million. Research analysts expect that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Seadrill

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.