SIR Capital Management L.P. Invests $9.87 Million in Seadrill Limited $SDRL

Key Points

• SIR Capital Management acquired 260,971 Seadrill shares worth approximately $9.87 million, representing about 0.42% of the company. Institutional investors collectively owned 95.67% of Seadrill at the end of the quarter.
• Analyst sentiment is broadly positive, with Seadrill receiving a “Moderate Buy” consensus rating and an average price target of $55, compared with a recent share price of $46.71.
• Seadrill reported quarterly EPS of $0.47, beating estimates of $0.29, while revenue of $430 million exceeded the $388.46 million consensus forecast.

SIR Capital Management L.P. acquired a new stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 260,971 shares of the oil and gas company's stock, valued at approximately $9,870,000. SIR Capital Management L.P. owned about 0.42% of Seadrill at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Seadrill in the 2nd quarter worth approximately $207,509,000. Schf GPE LLC bought a new position in Seadrill during the second quarter valued at approximately $60,132,000. Patient Capital Management LLC bought a new position in Seadrill during the second quarter valued at approximately $73,876,000. Webs Creek Capital Management LP purchased a new position in shares of Seadrill during the second quarter worth approximately $49,368,299,000. Finally, Elliott Investment Management L.P. raised its stake in shares of Seadrill by 23.1% during the fourth quarter. Elliott Investment Management L.P. now owns 4,558,758 shares of the oil and gas company's stock worth $157,733,000 after acquiring an additional 855,012 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SDRL. Weiss Ratings restated a "sell (d+)" rating on shares of Seadrill in a report on Tuesday, June 30th. Fearnley Fonds upgraded shares of Seadrill from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Capital One Financial set a $55.00 target price on shares of Seadrill and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Zacks Research raised shares of Seadrill from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, BWS Financial restated a "buy" rating and set a $80.00 price target on shares of Seadrill in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Seadrill presently has an average rating of "Moderate Buy" and an average target price of $55.00.

Seadrill Stock Down 1.2%

Shares of Seadrill stock opened at $46.71 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50. Seadrill Limited has a 52-week low of $28.10 and a 52-week high of $55.47. The company's 50 day moving average price is $42.46 and its 200-day moving average price is $44.71. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 1,556.93 and a beta of 1.21.

Seadrill (NYSE:SDRL - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.18. The company had revenue of $430.00 million during the quarter, compared to analyst estimates of $388.46 million. Seadrill had a net margin of 0.07% and a return on equity of 0.64%. Equities research analysts forecast that Seadrill Limited will post 0.37 EPS for the current year.

About Seadrill

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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