Seadrill Limited $SDRL Stock Sold by Hosking Partners LLP

Key Points

• Hosking Partners reduced its Seadrill stake by 3.8% in the third quarter, selling 26,878 shares while retaining 677,637 shares worth approximately $30.27 million. Institutional investors and hedge funds collectively own 95.67% of SDRL.
• Analyst sentiment remains generally positive, with Seadrill holding an average “Buy” rating and a consensus price target of $59.40; individual targets range from $55 to $80.
• Seadrill exceeded quarterly earnings expectations, reporting $0.47 in EPS versus the $0.29 consensus and revenue of $430 million compared with estimates of $388.46 million. The stock opened at $49.17 and remains below its 52-week high of $55.47.

Hosking Partners LLP trimmed its position in Seadrill Limited (NYSE:SDRL - Free Report) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 677,637 shares of the oil and gas company's stock after selling 26,878 shares during the period. Hosking Partners LLP owned approximately 1.08% of Seadrill worth $30,270,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SDRL. State of Wyoming acquired a new position in Seadrill during the second quarter valued at approximately $55,000. Integrated Wealth Concepts LLC bought a new stake in Seadrill in the second quarter valued at approximately $92,000. GAMMA Investing LLC increased its stake in Seadrill by 38.2% in the third quarter. GAMMA Investing LLC now owns 2,523 shares of the oil and gas company's stock valued at $113,000 after purchasing an additional 698 shares in the last quarter. Entropy Technologies LP acquired a new stake in Seadrill in the first quarter worth $205,000. Finally, Abel Hall LLC acquired a new stake in Seadrill in the third quarter worth $210,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SDRL has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Seadrill from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, October 9th. Zacks Research cut shares of Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 14th. Citigroup reaffirmed a "neutral" rating on shares of Seadrill in a research note on Monday, September 7th. BWS Financial reaffirmed a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research note on Wednesday, October 14th. Finally, Capital One Financial set a $55.00 target price on Seadrill and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $59.40.

Seadrill Price Performance

NYSE SDRL opened at $49.17 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 1,639.17 and a beta of 1.25. The business has a 50 day simple moving average of $47.21 and a 200 day simple moving average of $45.86. 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 for the quarter, compared to analyst estimates of $388.46 million. Analysts anticipate that Seadrill Limited will post 0.63 earnings per share for the current fiscal year.

Seadrill Company Profile

Seadrill Limited NYSE: SDRL is an offshore drilling contractor that provides drilling services to oil and gas companies. The company operates a fleet of mobile offshore drilling units, including ultra-deepwater drillships and semisubmersible rigs, which are used to explore for and develop hydrocarbon resources beneath the seabed.

Seadrill's services include contract drilling, rig operations, well construction support and related offshore services. Its modern, high-specification fleet is designed to work in challenging deepwater and harsh-environment locations.

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