Squarepoint Ops LLC Boosts Stock Position in Seadrill Limited $SDRL

Squarepoint Ops LLC boosted its holdings in shares of Seadrill Limited (NYSE:SDRL - Free Report) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 382,188 shares of the oil and gas company's stock after purchasing an additional 29,588 shares during the period. Squarepoint Ops LLC owned about 0.61% of Seadrill worth $14,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Arizona State Retirement System grew its position in shares of Seadrill by 5.7% in the 2nd quarter. Arizona State Retirement System now owns 17,232 shares of the oil and gas company's stock worth $652,000 after buying an additional 926 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Seadrill by 3,584.1% in the second quarter. California State Teachers Retirement System now owns 2,686,014 shares of the oil and gas company's stock valued at $101,585,000 after acquiring an additional 2,613,105 shares in the last quarter. BTG Pactual Asset Management US LLC bought a new stake in Seadrill in the second quarter valued at $2,135,000. Wellington Management Group LLP purchased a new position in Seadrill during the 2nd quarter valued at $29,947,000. Finally, Empowered Funds LLC purchased a new position in Seadrill during the 2nd quarter valued at $5,066,000. Hedge funds and other institutional investors own 95.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SDRL. Citigroup reaffirmed a "neutral" rating on shares of Seadrill in a research report on Monday. Weiss Ratings reissued a "sell (d+)" rating on shares of Seadrill in a research note on Tuesday, June 30th. Capital One Financial set a $55.00 price objective on shares of Seadrill and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Finally, BWS Financial reaffirmed a "buy" rating and set a $80.00 price objective on shares of Seadrill in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.40.

Seadrill Trading Down 0.3%

Shares of NYSE SDRL opened at $48.09 on Thursday. Seadrill Limited has a 1 year low of $28.10 and a 1 year high of $55.47. The stock has a market cap of $3.01 billion, a P/E ratio of 1,602.87 and a beta of 1.22. The firm has a 50-day moving average of $44.77 and a 200 day moving average of $45.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.50 and a quick ratio of 2.50.

Seadrill (NYSE:SDRL - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The oil and gas company reported $0.47 earnings per share for the quarter, topping 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 business had revenue of $430.00 million for the quarter, compared to analysts' expectations of $388.46 million. As a group, sell-side analysts expect that Seadrill Limited will post 0.37 EPS for the current fiscal year.

Seadrill Profile

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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