Bank of America Corp DE decreased its position in Seadrill Limited (NYSE:SDRL - Free Report) by 40.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,160 shares of the oil and gas company's stock after selling 266,950 shares during the period. Bank of America Corp DE owned approximately 0.62% of Seadrill worth $17,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently bought and sold shares of SDRL. Edgestream Partners L.P. grew its holdings in Seadrill by 64.0% during the first quarter. Edgestream Partners L.P. now owns 158,279 shares of the oil and gas company's stock worth $7,202,000 after acquiring an additional 61,791 shares during the period. California State Teachers Retirement System boosted its position in Seadrill by 25.7% in the 1st quarter. California State Teachers Retirement System now owns 72,909 shares of the oil and gas company's stock worth $3,317,000 after purchasing an additional 14,901 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Seadrill by 91.9% during the 1st quarter. Quantinno Capital Management LP now owns 71,916 shares of the oil and gas company's stock worth $3,272,000 after purchasing an additional 34,436 shares during the period. Elliott Investment Management L.P. increased its holdings in shares of Seadrill by 3.5% during the 1st quarter. Elliott Investment Management L.P. now owns 4,719,085 shares of the oil and gas company's stock valued at $214,718,000 after purchasing an additional 160,327 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Seadrill during the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 95.67% of the company's stock.
Wall Street Analyst Weigh In
SDRL has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Seadrill in a research report on Tuesday, June 30th. Capital One Financial set a $55.00 price objective on Seadrill and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Zacks Research raised Seadrill from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. BWS Financial restated a "buy" rating and issued a $80.00 target price on shares of Seadrill in a research report on Tuesday, August 11th. Finally, Barclays upgraded Seadrill from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $41.00 to $59.00 in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Seadrill presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.
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Seadrill Stock Down 0.5%
Shares of Seadrill stock opened at $46.27 on Thursday. 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 50 day moving average of $42.24 and a 200 day moving average of $44.53. The company has a market capitalization of $2.89 billion, a P/E ratio of 1,542.50 and a beta of 1.21. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47.
Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.18. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. The firm had revenue of $430.00 million during the quarter, compared to analysts' expectations of $388.46 million. As a group, research analysts forecast that Seadrill Limited will post 0.37 EPS for the current fiscal year.
About Seadrill
(
Free Report)
Seadrill Limited, trading on the New York Stock Exchange under the symbol SDRL, is a leading provider of offshore drilling services to the global oil and gas industry. The company specializes in the design, construction, deployment and operation of mobile offshore drilling units, serving major exploration and production companies with turnkey drilling solutions.
Seadrill’s fleet comprises ultra-deepwater drillships, semi-submersible rigs and high-specification jack-up units capable of operating in some of the world’s most challenging offshore environments.
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