Strs Ohio Buys Shares of 24,600 Seadrill Limited $SDRL

Key Points

• Strs Ohio has acquired a new position in Seadrill Limited, purchasing 24,600 shares valued at approximately $615,000 during the 1st quarter.
• Several institutional investors, including Ameriprise Financial and Invesco Ltd., have also increased their stakes in Seadrill, with institutional ownership now at 95.67%.
• Analysts have mixed ratings on the stock, with an average target price of $45.25, while Citigroup recently upgraded its target from $36.00 to $40.00.

Strs Ohio acquired a new stake in shares of Seadrill Limited (NYSE:SDRL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,600 shares of the oil and gas company's stock, valued at approximately $615,000.

Several other institutional investors and hedge funds have also made changes to their positions in SDRL. Adage Capital Partners GP L.L.C. grew its holdings in Seadrill by 22.5% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,200,535 shares of the oil and gas company's stock valued at $105,013,000 after purchasing an additional 771,366 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its position in Seadrill by 151.9% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,200,201 shares of the oil and gas company's stock valued at $30,149,000 after buying an additional 723,827 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Seadrill by 54.5% in the 1st quarter. Neuberger Berman Group LLC now owns 715,702 shares of the oil and gas company's stock valued at $17,893,000 after buying an additional 252,363 shares during the last quarter. Hosking Partners LLP grew its stake in shares of Seadrill by 8.2% during the first quarter. Hosking Partners LLP now owns 566,610 shares of the oil and gas company's stock valued at $14,165,000 after acquiring an additional 42,794 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Seadrill by 5.1% during the first quarter. Systematic Financial Management LP now owns 474,400 shares of the oil and gas company's stock worth $11,860,000 after acquiring an additional 23,135 shares during the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

Seadrill Stock Performance

SDRL traded up $0.20 on Monday, hitting $31.21. 1,427,032 shares of the company's stock were exchanged, compared to its average volume of 990,946. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $30.53 and a two-hundred day moving average of $26.48. Seadrill Limited has a twelve month low of $17.74 and a twelve month high of $42.41. The firm has a market cap of $1.94 billion, a PE ratio of 27.87 and a beta of 1.62.

Seadrill (NYSE:SDRL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.68) EPS for the quarter, missing the consensus estimate of $0.68 by ($1.36). The company had revenue of $377.00 million for the quarter, compared to the consensus estimate of $365.73 million. Seadrill had a net margin of 5.68% and a return on equity of 1.58%. On average, research analysts anticipate that Seadrill Limited will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SDRL. Citigroup increased their price target on Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a report on Friday, August 29th. Fearnley Fonds lowered Seadrill from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Zacks Research raised shares of Seadrill to a "strong sell" rating in a research report on Tuesday, August 12th. Finally, SEB Equity Research set a $33.00 price target on shares of Seadrill in a research note on Monday, September 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.25.

Seadrill Company 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.