Soviero Asset Management LP Invests $4.28 Million in Seadrill Limited (NYSE:SDRL)

Soviero Asset Management LP acquired a new position in Seadrill Limited (NYSE:SDRL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 110,000 shares of the oil and gas company's stock, valued at approximately $4,282,000. Seadrill makes up 2.7% of Soviero Asset Management LP's holdings, making the stock its 13th largest holding. Soviero Asset Management LP owned approximately 0.15% of Seadrill at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Seadrill by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,459,524 shares of the oil and gas company's stock valued at $134,677,000 after purchasing an additional 384,471 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Seadrill by 10.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,429,169 shares of the oil and gas company's stock valued at $133,498,000 after purchasing an additional 320,392 shares in the last quarter. Condire Management LP boosted its position in shares of Seadrill by 18.2% during the 4th quarter. Condire Management LP now owns 3,039,615 shares of the oil and gas company's stock valued at $118,332,000 after purchasing an additional 467,623 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Seadrill during the 4th quarter valued at about $66,400,000. Finally, Patient Capital Management LLC boosted its position in shares of Seadrill by 63.5% during the 4th quarter. Patient Capital Management LLC now owns 1,676,777 shares of the oil and gas company's stock valued at $65,277,000 after purchasing an additional 651,132 shares in the last quarter. Institutional investors own 95.67% of the company's stock.

Seadrill Trading Down 2.1%

SDRL stock traded down $0.50 during mid-day trading on Wednesday, reaching $23.29. 413,939 shares of the stock traded hands, compared to its average volume of 963,081. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $56.46. The company has a market cap of $1.45 billion, a P/E ratio of 4.06 and a beta of 1.48. The stock's fifty day moving average is $22.55 and its 200-day moving average is $31.00.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SDRL. BTIG Research set a $28.00 price objective on shares of Seadrill in a research report on Monday, May 5th. BWS Financial reaffirmed a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research note on Tuesday, May 13th. Finally, Citigroup reduced their price objective on shares of Seadrill from $46.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th.

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.