Strs Ohio Makes New $615,000 Investment in 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 position in Seadrill Limited (NYSE:SDRL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 24,600 shares of the oil and gas company's stock, valued at approximately $615,000.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in Seadrill by 254.1% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,133 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 813 shares during the period. Caldwell Sutter Capital Inc. bought a new stake in Seadrill in the first quarter worth about $30,000. Farther Finance Advisors LLC raised its position in Seadrill by 10,733.3% in the first quarter. Farther Finance Advisors LLC now owns 1,300 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 1,288 shares during the period. Versant Capital Management Inc raised its position in Seadrill by 412.2% in the first quarter. Versant Capital Management Inc now owns 1,347 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 1,084 shares during the period. Finally, CWM LLC raised its position in Seadrill by 30.8% in the first quarter. CWM LLC now owns 3,585 shares of the oil and gas company's stock worth $90,000 after acquiring an additional 845 shares during the period. Institutional investors own 95.67% of the company's stock.

Seadrill Trading Up 3.4%

Shares of Seadrill stock traded up $1.07 during trading on Tuesday, reaching $32.49. The company's stock had a trading volume of 366,978 shares, compared to its average volume of 987,205. Seadrill Limited has a 52-week low of $17.74 and a 52-week high of $42.41. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 29.01 and a beta of 1.62. The firm's 50-day moving average is $30.56 and its two-hundred day moving average is $26.53. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.21.

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

Analyst Ratings Changes

Several brokerages have commented on SDRL. SEB Equity Research set a $33.00 price objective on shares of Seadrill in a research report on Monday, September 1st. Fearnley Fonds lowered shares of 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, Citigroup boosted their price target on shares of Seadrill from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.25.

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.