Tejara Capital Ltd Invests $2.90 Million in Seadrill Limited $SDRL

Key Points

• Tejara Capital purchased 76,600 Seadrill shares worth approximately $2.90 million, making the position 1.2% of its portfolio and giving it about 0.12% ownership of the company.
• Institutional interest increased broadly, with Federated Hermes and Russell Investments expanding their positions and several other funds initiating stakes; institutions now own 95.67% of Seadrill’s shares.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $55 target price. Seadrill also exceeded quarterly expectations, reporting $0.47 EPS versus $0.29 expected and revenue of $430 million.

Tejara Capital Ltd purchased a new stake in Seadrill Limited (NYSE:SDRL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 76,600 shares of the oil and gas company's stock, valued at approximately $2,897,000. Seadrill makes up 1.2% of Tejara Capital Ltd's investment portfolio, making the stock its 27th biggest holding. Tejara Capital Ltd owned about 0.12% of Seadrill at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SDRL. Russell Investments Group Ltd. grew its holdings in Seadrill by 23.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 38,538 shares of the oil and gas company's stock valued at $1,012,000 after buying an additional 7,233 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Seadrill in the second quarter worth about $42,000. Federated Hermes Inc. boosted its position in shares of Seadrill by 394,614.3% in the second quarter. Federated Hermes Inc. now owns 221,040 shares of the oil and gas company's stock valued at $5,802,000 after acquiring an additional 220,984 shares during the period. Cerity Partners LLC bought a new position in shares of Seadrill in the second quarter valued at approximately $696,000. Finally, Sei Investments Co. purchased a new position in Seadrill during the second quarter valued at approximately $375,000. 95.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Capital One Financial set a $55.00 target price on shares of Seadrill and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Zacks Research raised Seadrill from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Barclays upgraded Seadrill from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $41.00 to $59.00 in a research report on Thursday, May 7th. BWS Financial restated a "buy" rating and issued a $80.00 target price on shares of Seadrill in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Seadrill in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Seadrill presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

Seadrill Stock Up 3.2%

SDRL opened at $47.74 on Friday. The business's fifty day simple moving average is $42.31 and its 200 day simple moving average is $44.59. Seadrill Limited has a 52 week low of $28.10 and a 52 week high of $55.47. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.99 billion, a PE ratio of 1,591.33 and a beta of 1.21.

Seadrill (NYSE:SDRL - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.18. The firm had revenue of $430.00 million during the quarter, compared to analyst estimates of $388.46 million. Seadrill had a return on equity of 0.64% and a net margin of 0.07%. As a group, research analysts expect that Seadrill Limited will post 0.37 earnings per share 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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