Soviero Asset Management LP Takes Position in Seadrill Limited (NYSE:SDRL)

Soviero Asset Management LP bought a new stake in Seadrill Limited (NYSE:SDRL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 110,000 shares of the oil and gas company's stock, valued at approximately $4,282,000. Seadrill accounts for approximately 2.7% of Soviero Asset Management LP's investment portfolio, making the stock its 13th largest position. Soviero Asset Management LP owned about 0.15% of Seadrill as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SDRL. Barclays PLC increased its holdings in shares of Seadrill by 48.5% in the 3rd quarter. Barclays PLC now owns 930,942 shares of the oil and gas company's stock valued at $36,996,000 after purchasing an additional 303,839 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Seadrill by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 88,039 shares of the oil and gas company's stock valued at $3,499,000 after purchasing an additional 17,955 shares during the period. SG Americas Securities LLC increased its holdings in shares of Seadrill by 261.5% in the 4th quarter. SG Americas Securities LLC now owns 89,969 shares of the oil and gas company's stock valued at $3,502,000 after purchasing an additional 65,078 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Seadrill in the 4th quarter valued at about $517,000. Finally, Entropy Technologies LP acquired a new position in shares of Seadrill in the 4th quarter valued at about $288,000. Institutional investors and hedge funds own 95.67% of the company's stock.

Seadrill Stock Up 1.2%

NYSE:SDRL traded up $0.28 during mid-day trading on Friday, reaching $23.10. The stock had a trading volume of 470,247 shares, compared to its average volume of 964,488. The business's 50 day moving average is $22.48 and its 200 day moving average is $30.89. Seadrill Limited has a fifty-two week low of $17.74 and a fifty-two week high of $56.46. The stock has a market cap of $1.44 billion, a P/E ratio of 4.03 and a beta of 1.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53.

Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The oil and gas company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.48). Seadrill had a net margin of 27.79% and a return on equity of 7.24%. The company had revenue of $335.00 million for the quarter, compared to analyst estimates of $325.69 million. As a group, sell-side analysts predict that Seadrill Limited will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SDRL. BWS Financial restated a "buy" rating and issued a $80.00 price objective on shares of Seadrill in a report on Tuesday, May 13th. BTIG Research set a $28.00 price objective on Seadrill in a report on Monday, May 5th. Finally, Citigroup dropped their price objective on Seadrill from $46.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th.

Seadrill 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.